Feb 7, 2019 - Economy

Ford to invest $1 billion in Chicago plants

Ford logo.

Photo: Rolf Vennenbernd/picture alliance via Getty Images

Ford announced Thursday it will invest $1 billion and add 500 jobs to two Chicago-area manufacturing facilities to expand production of the Ford Explorer and Lincoln Aviator, CNBC reports.

The big picture: Ford is simultaneously making cuts to its overseas workforce, specifically in Europe as President Trump pressures U.S. automakers to boost hiring at home. In 2017, Ford cancelled its plans to open a plant in Mexico.

Go deeper