Ford Motor Co. confirms a long-expected investment at its Cleveland engine plant to build a new 3.7L V-6 for the ʼ11 Mustang.

The auto maker will inject $155 million into the plant, which will add 60 jobs as part of the upgrade to produce the new 305-hp V-6.

Including money put into the Cleveland operation, Ford says it is spending $1.8 billion on powertrain engineering and facility upgrades in North America in support of its ʼ11 model vehicle launches.

The all-aluminum V-6 is expected to achieve 30 mpg (7.8 L/100 km) on the highway in the new Mustang, which hits U.S. dealers this spring.

Most of the Cleveland investment – $121 million – will be put toward upgrading the plant’s flexible manufacturing systems for assembly and production of cylinder blocks, heads and crankshafts. The remaining $34 million is earmarked for launch and engineering, Ford says.

Some of the funding for the project came via the U.S. Department of Energy’s Advanced Technology Vehicles Manufacturing Incentives Program.