Ford to launch next version of Explorer SUV

US based automobile manufacturer Ford Motors has announced that it will invest $400 million in its production facilities to manufacturer next version of, its Explorer SUV by the end of year 2010. According to company this move is expected to create 1,200 jobs at its Chicago assembly plant.

The USD 400 million includes the investment of USD 180 million in manufacturing facilities at the Chicago sites and investment of about USD 220 million for launch and engineering costs. Around 1200 people will be recruited to staff its second production shift at Chicago assembly plant. In addition to this the Ford will also invest significantly in supplier tooling which in turn support production of next generation Explorer.

According to the company the new Explorer will provide about 25% better fuel economy compare to current model of the company. In addition to this the model will be featured with Ford's new EcoBoost technology. It is expected that the company will provide more details about the model in the second fiscal of the year.