Ford Motor Co has pledged to spend $9 billion over four years in new investment in the United States if a tentative contract with the United Auto Workers union is ratified by UAW Ford workers, people familiar with the deal said on Friday.
Full details of the investment pledge were not provided by the sources, but they said that a plant in Wayne, Michigan, will receive new product to build and will remain open. There was some concern of the plant’s future after Ford four months ago said it would pull production of two small car models from the plant.
The proposed contract also would give workers $10,000 in bonuses once the pact is ratified, the sources said. That would consist of an $8,500 ratification bonus and a pull-ahead amount of $1,500 in a 2016 profit-sharing bonus so the workers can have the extra money before the holidays, the sources said.