General Motors has announced it will invest US $3.6 billion between 2015 and 2018 to double its production capacity in Mexico.
Expansion will take place at all four of the company’s plants, located in the State of México, Coahuila, Guanajuato and San Luis Potosí, generating 5,600 new direct jobs and 40,000 indirect, said company officials and government representatives at a press conference in Mexico City.
The expansion will also mean a 31% increase in GM’s purchase of parts from domestic suppliers, said Economy Secretary Ildefonso Guajardo, to reach about $18 billion.
The investment announced today at the presidential home in Los Pinos will be put toward expansion projects at the four plants, modernization of production lines and technological advances in automobiles and auto parts, said Ernesto Hernández, president and managing director of the Mexico division.
The company is Mexico’s leading exporter and produced 645,823 units in Mexico last year, mostly for the U.S. market. In other production numbers, GM manufactured 890,000 engines and 1.185 million transmissions at its Mexico factories.
The country has received more than $19 billion in investments in the automotive industry since President Peña Nieto took office two years ago, said Guajardo.
General Motors has been operating in Mexico for 79 years and employs 15,000 people. In October its technical training center, now called General Motors Corporate University, celebrated its 60th anniversary.
Source: Mexico Daily News
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