Ford Motor Company (NYSE: F) is investing $155 million in its Cleveland operations to build a new fuel-efficient V-6 engine for the 2011 Mustang. The company is aiming for 30 miles per gallon on the highway and 305 horsepower–a level of efficiency that would likely be at the top of the class for fuel-guzzling muscle cars.
The company said the new operations are expected to add 60 jobs at Ford’s Cleveland Engine Plant No. 1.
The automaker now has invested $1.8 billion in powertrain engineering and facility upgrades in North America to support its 2011 vehicle launches. Green job creation is estimated at 1,260 positions. The company said additional investments are on the way – with more to come.
The new Mustang engine is one of nine new or upgraded engines or transmissions for 2011 model Ford, Lincoln and Mercury vehicles.
Bill Russo, director of manufacturing for Ford’s powertrain operations, said the company is committed to delivering class-leading fuel efficiency with every new vehicle it introduces.
Ford said the feel and even the noise-level of the new engine will be the same as expected by Mustang enthusiasts. But the company is alos hedgin its bet, continuing to offer souped-up, "no-compromises" engines for drivers with limitless gasoline budgets and no interest in reducing their personal carbon footprints.
Ford’s investment at Cleveland Engine Plant is supported by Ford’s partnership with the U.S. Department of Energy. This Ohio plant is one of 11 Ford facilities in the U.S. participating in the Advanced Technology Vehicles Manufacturing Incentives Program initiated by Congress and implemented by the Obama administration. This project is also supported by Ford’s state and local government partners primarily through training funds.
Ford also said it has lowered its tailpipe CO2 emissions more than any other automaker. Ford’s fleet-wide average of 434 grams per mile is 37 grams lower than the 2007 total and 25 grams lower than 2008.
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