Ford Motor Co. is investing $155 million into Cleveland Engine Plant No. 1, which will soon build the upgraded V-6 engine for the 2011 Mustang.
This move leads to the creation of 60 jobs at this plant. Ford said that including this investment, a total of $1.8 billion has been spent in powertrain engineering and facility upgrades to support 2011 vehicle launches.
Ford said however, that it anticipates that this figure will increase. No amounts were specified though. Meanwhile, pricing for the 2011 Mustang has been revealed.
A Ford spokeswoman said that the base price of the V-6 model is $22,995 while the base price on the GT is $30,495. Shipping costs are included in these prices.
Ford estimates that the upgraded V-6 engine would account for two-thirds of the Mustang sales in 2010, according to a company statement. The model has an all-aluminum, dual-overhead-cam, 3.7-liter, 24-valve V-6 engine, which generates 305 hp.
On the highway, 30 mpg is the projection with a six-speed automatic transmission. With this engine, the 2011 Mustang is expected to get slightly ahead of the 2010 Chevrolet Camaro V-6.
The Mustang’s edge is that it has one more horsepower and one more highway mile per gallon than the Camaro. The 2011 Mustang goes on sale this spring.