Ford cancels Mexico plant, will boost US output

Ford announced Tuesday it is canceling plans to build a $1.6 billion plant in Mexico and will boost US production of electric vehicles, in part due to a better business environment under President-elect Donald Trump. "Ford today announced it is canceling plans for the new plant in San Luis Potosi, Mexico," the company said in a statement. At the same time, Ford is adding 700 US jobs and investing $700 million from the funds earmarked for the Mexico plant during the next four years to expand its