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Ford to Spend $1 Billion on New Vehicle Line

October 07, 2003|From Reuters

Ford Motor Co. said it would spend $1 billion on a new line of vehicles derived from its Ford Futura sedan, set to be built in Hermosillo, Mexico, in 2005.

The Futura -- a key part of Ford's turnaround plan -- will be the basis for at least 10 new Ford, Lincoln and Mercury models over the next several years, accounting for up to 800,000 vehicles a year.

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