Ford Motor Co. will be investing $135 million at two Michigan plants that will help introduce five new models by 2012. Ford said it will begin selling two electric vehicles and three new hybrids to meet the new U.S. fuel economy standards. Ford plans to introduce a gasoline-electric version of its Lincoln MKZ sedan and an electric versions of the Transit Connect van this year, and the Focus electric car in 2011.

The investment will result in 220 new jobs by 2012, Ford said, including 130 hourly jobs at a trans-axle plant in Sterling Heights, Mich., and 40 hourly jobs at a Ypsilanti plant that will build battery packs. Fifty engineering jobs will be added as well.

Ford has eliminated 47 percent of its North American workforce since 2006, and had 70,000 workers in the region at the end of the first quarter. The company has cut costs and overhauled its model lineup to become less dependent on sport- utility vehicles and pickup trucks. The automaker ended three years of losses with a $2.7 billion profit last year as the U.S. auto market fell to the lowest level in 27 years.