The Ford Motor Company is making major power plays, investing billions of dollars into its Electric Vehicle programs. What does it mean for your paycheck?
Here’s Five Fast Facts …… :
- 🏇 The race is on - Tesla may be king when it comes to electric vehicles, but Ford isn’t going down without a fight. They’re investing $3.7 billion into their EV programs.
- ⚙️ Let’s get to work - 6,200 union jobs will be added in Michigan, Ohio, and Missouri. About 3,000 workers will be bumped up to full-time, complete with pay raises and benefits.
- ⛵ Missing the boat - Some say Ford is playing catch-up with this investment because they initially under-estimated the demand for electric vehicles. There’s probably a sad executive team out there wondering if they’ll lose their bonus this year.
- 💸 Payday - Sad executives aside, the jobs created will be good-paying union jobs and not short-term. This will be an ongoing project, creating job stability for future generations.
- 😎 The future is bright - This current investment aims to ramp up EV production to two million electric cars by 2026. And Ford’s CEO has hinted more than once that this is not their last big announcement. So stay tuned!
🔥Bottom line: The Ford Motor Company may have gotten a slow start out of the gate in producing electric cars. But don’t count out this dark horse (a Mustang, perhaps?) yet. The future is looking electric, and we’re here for it.
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