Ford, criticized by Trump, cancels plans

Baku. 4 January. REPORT.AZ/ Ford Motor, the US second-largest automaker, has canceled its plans to build a Mexican plant and San Potosi cars.

Report informs citing foreign media, the reason was a message by President-elect Donald Trump on Twitter regarding the company's local rival General Motors.

Thus, the President-elect posted, General Motors is sending Mexican made model Chevy Cruze to U.S. car dealers tax-free across the border as well as wrote on increase of border tax. It has changed Ford Motor plans.

Mark Fields, the C.E.O. of Ford, said market demand – not criticism from Donald Trump – was the main reason for canceling plans to build a Mexican plant. According to him, Regardless of who is a new president of the United States, Ford Motor planned to cancel construction of the plant due to less demand for San Potosi in the American market.

In addition, M.Fields said that the company packaged a series of announcements on new electrified vehicles with a promise to invest 700 million USD in Michigan plant.

Notably, the Mexican plant would have been a 1.6 billion USD investment. During the election campaign, D.Trump commented the issue and called it "an absolute disgrace". This statement and the decision of the Ford Motor resulted in the weakening of the Mexican peso exchange rate.