Blue Wave Auto Spa, T-Shirt, Blue Wave Band Announced For 2018

By MELISSA STANFIELD (Reuters) – Blue Wave Automotive Group Inc, a maker of specialty auto-transport vehicles, has signed a deal with Ford Motor Co to manufacture cars and trucks at its U.S. auto plant, which opened in 2019.

The deal will see Blue Wave develop two new vehicles at the Michigan plant, including a sport utility vehicle and a small-car sedan, BlueWave said in a statement on Wednesday.

Ford Motor Co said it will build and sell the cars at its other plant in Port Huron, Michigan, which will have a third auto assembly plant.

Blue Wave and Ford declined to say what models would be built at either plant.

The auto parts maker plans to spend $1 billion to expand its Michigan assembly line and add 600 jobs in the coming years, according to the statement.

Blue Wave, which has a $3.2 billion market value, has been struggling to make headway in its bid to regain market share as a result of the global automotive downturn.

BlueWave’s business, which includes auto parts, has lost market share to General Motors Co, Fiat Chrysler Automobiles NV and Ford Motor, according on the S&P 500 index.

Ford and GM have said they would not buy Blue Wave’s cars, citing safety and quality concerns.

Bluewave is a small, privately held company with a fleet of more than 50 vehicles.

It is part of the General Motors Group Inc-owned automaker.

The company employs about 800 people, according the company.

(Reporting by Melinda Beck; Editing by Tom Brown)