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
more recommended stories
Canadian Historical investment for Southern Quintana Roo
TORONTO (CGC).– Quintana Roo´s governor Carlos.
Mexico’s National Guard unanimously approved by Senate (it won’t be military-led)
(Reuters) – On Thursday February 21st,.
Mexico’s national anthem to be sang in Maya language
As part of a select group,.
As usually for the last 30 years, Cancun will draw thousands of college students for “Spring Break 2019”
College students all over the US and.
AAA Adds Five Hotels in Mexico to Five Diamond List (two of them in the Yucatan Peninsula)
AAA has released its annual list of.
Yucatan Symphony Orchestra celebrates 15 years
The Yucatan Symphony Orchestra (OSY) will.
Municipal government began installing cultural-sites signage along Mérida’s downtown
With an investment of 170,000 pesos,.
19-year-old girl missing in Mérida finally found safe and sound
A 19-year-old girl left her home.
Several Reasons to Use Quotes in Your Presentation
A well-chosen quote can set a.
Whomever accuses the Church is related to the devil: Pope Francis
ROME (EFE).- Pope Francis criticized on.