Fortis, the Ford brand and other American brands are leaving Mexico to be more globally competitive.
Ford has been building Fortis cars in Mexico since 2001 and plans to keep it there, CEO Mark Fields said at the company’s annual shareholder meeting Tuesday.
The company has been looking to move to a manufacturing facility in Mexico, where it has been making trucks for more than 20 years, Fields said.
The move to Fortis comes as the global market for Ford cars is shrinking.
Mexico has about 30 million people, and its economy has been slowing for years, according to a report from the World Bank.
That is about a third of the U.S. population.
Ford has been expanding production in Mexico.
More: Ford announced Tuesday that it would keep the company in Mexico as long as the Mexican government allows it to.
Ford plans to continue to sell cars in the country, but will no longer produce cars in Fortis factories.
Fields said Ford is going to focus on building products that work in the U and globally.
“I think that is our mission right now,” Fields said, adding that Ford was focused on building vehicles that worked across borders.
While Ford said it will not make cars at Fortis anymore, the automaker has said it plans to make cars there in the future.
The company’s new Mexico facility will allow it to sell more cars in a country with a population of about 22 million people.
Ford said Fortis will continue to make its cars at its Mexico plant for at least five years.
Fortis is the company that manufactures the Fortis Xtra SUV and Fortis Ranger pickup trucks.
The Fortis brand is sold in more than 50 countries around the world.