Ford Plunks Down $200 Million Bet on Trump and Awaits Reward
- Carmaker books charge after canceling Mexico small-car plant
- CEO says there are no plans to build new factories in U.S.
Ford CEO: Trump Is Good for Business, Economy
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Ford Motor Co. revealed Thursday the price paid for its aggressive push to curry favor with President Donald Trump: $200 million.
Within fourth-quarter results that met analyst expectations, Ford took a $200 million charge to cover the cost of abandoning a small-car factory in Mexico that would have built the Focus compact. The automaker announced the turnabout earlier this month after Trump, as candidate and president-elect, sharply criticized the plant.