Ford Motor Co. is investing $3 billion to expand production capacity for one of its most popular and profitable vehicles.
The company announced on Thursday that it's adding its third North American assembly plant for its F-Series Super Duty trucks, its heavy-duty line of pickups. The plan will initially add capacity for 100,000 vehicles, Ford said.
The plant, located at Oakville Assembly Complex in Ontario, Canada, is an effort by the company to maximize its manufacturing footprint and expand its Ford Pro commercial business. Of the $3 billion, Ford will invest $2.3 billion in the Oakville complex.
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The company's Kentucky Truck Plant and Ohio Assembly Plant, which also manufacture the heavy-duty trucks, are already running at full capacity, according to Ford.
"Super Duty is a vital tool for businesses and people around the world and, even with our Kentucky Truck Plant and Ohio Assembly Plant running flat out, we can’t meet the demand," CEO Jim Farley said.
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While the move specifically benefits the Ford Pro commercial business, Farley said the factory will also pave the way for future multi-energy technology, supporting the company's electrification plans.
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Ford is planning to introduce three-row electric utility vehicles.
In the first half of the year, the Kentucky Truck Plant and Ohio Assembly Plant produced more than 200,000 Super Duty trucks.
Ford’s Chief Operating Officer Kumar Galhotra believes this investment "will have a fast payback."
