Ford announced a $500 million investment to add 300 jobs and upgrade the Lima Engine Plant to support production of the all-new 2.7-liter EcoBoost® engine for the 2015 F-150.

Ford Motor Co. is preparing to spend $500 million to upgrade its Lima Engine Plant in Ohio and add 300 new jobs to support production of the all-new 2.7-liter V6 that will be used in the 2015 Ford F-150 due out next fall.

Joe Hinrichs, Ford president of The Americas, said the twin-turbo 2.7-liter V6 EcoBoost engine with a standard stop-start system features an entirely new design that delivers power and performance.

“Our truck customers have spoken, and we continue to meet their evolving needs by providing another V6 option in the all-new 2015 F-150,” Hinrichs said.

Ford UAW Local 1219 employee Gene Anderson inspects an engine at Ford's Lima (Ohio) Engine Plant.

The announcement comes as Ford is preparing to launch the next wave of new products based on its “One Ford” philosophy.

This new EcoBoost engine builds on customer demand for F-150 pickups equipped with V6 engines. In fact, 57% of new customers in 2014 have opted for either a 3.7-liter V6 or 3.5-liter V6 EcoBoost to power their new F-150, Hinrichs said.

Since 2010, retail registrations of light-duty pickups with V6 engines have grown more than 600%, with Ford F-150 directly responsible for 91% of this growth, according to Ford analysis of Polk retail new vehicle registration data from IHS Automotive. Ford’s success in utilizing a V6 has override the conventional wisdom that traditional buyers of pick-up trucks want V8 engines.

The next generation F-150 with its extensive use of aluminum will be significantly lighter than the current truck and the new engine is expected is expected to boost the new truck’s mileage, reducing the daily cost of operation for many owners.

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Ford’s investment in Lima follows an announcement in early March that the company will also shift production of Ford F-650/F-750 medium-duty trucks from Mexico to the Ohio Assembly Plant in Avon Lake, in the Cleveland area, early next year.

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Lima Engine Plant produces the 3.5-liter and 3.7-liter Duratec V6 engines for multiple Ford vehicles including Edge and Explorer, as well as the Lincoln MKX, MKT and MKZ. The $500 million investment will go to a new flexible engine assembly system and renovation of 700,000 square feet of the facility for machining and assembly functions.

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“The new jobs at Lima Engine Plant will be a major boost to the community, and continue F-150’s reputation as one of the most American-made vehicles,” said Jimmy Settles, UAW vice president, National Ford Department. “It’s especially exciting that these jobs will go to support a new technology like the 2.7-liter EcoBoost for the all-new F-150.”