Even as it cuts thousands of jobs and closes more than a dozen plants across the United States, Ford is preparing to invest as much as $9.2 billion in Mexico to take advantage of lower operating costs there, Detroit's Oakland Press newspaper reported.
The newspaper said it obtained the information from a confidential document passed on by a Ford employee.
The Oakland Press quoted a Ford spokesman who called the report "speculative."
The document reportedly said Ford will increase purchases of components made in Mexico by 300 percent. Suppliers are expected to raise their component purchases by $3.6 billion.
Ford already has two assembly plants and an engine plant in Mexico.
Ford announced in January, under its "Way Forward" restructuring plan, that it would close 14 plants and dump up to 30,000 workers in North America.
The leaked document said the automaker's Mexico investments could create 150,000 jobs there over the next 10 years.
Professional and engineering jobs from Ford's U.S. operations also may go to Mexico.
The automaker, stung by market share losses to Japanese competitors and struggling to regain profitability after years in the red, also wants to the Mexican government to pony up incentives to make the move.
Ford officials might make the announcement ahead of Mexico's July 2 presidential election, hoping to boost the fortunes of conservative candidate Felipe Calderon, the newspaper reported.