An automotive parts manufacturer affiliated with South Korean automakers Hyundai Motor Co. and Kia Motors will build a US $417.7 million factory in Nuevo León.
Hyundai Mobis announced today it will manufacture automotive modules and lamps beginning in 2016 at the factory, to be built near Monterrey, to meet demand from the South Korean automakers.
A new plant has also been announced by Hyundai Wia, which is part of Hyundai Motor Group. It will invest $371.2 million in a factory that will manufacture engines and other parts.
Kia Motors, which is partly owned by Hyundai, announced plans in August to invest $1 billion in an assembly plant, also near Monterrey. It will produce 300,000 vehicles a year after production begins in 2016.
The association representing auto parts manufacturers in Mexico said last week it was expecting 2015 to be a boom year. National Auto Parts Industry president Oscar Albín Santos said more new plants would be opening and existing plants would be expanding.
more recommended stories
A study by Universidad del Caribe reveals exponential increase of Airbnb rooms in Cancun
Cancun, Q.R. — A new reports.
Mexico’s next government starts oil contract reviews with Talos Energy
MEXICO CITY (Reuters) – Mexico’s incoming.
Mexico marks anniversaries of two deadly earthquakes
Memorials were held in Mexico Wednesday.
Ship sails out of Progreso, Yucatán to explore Central American seas
The Government of Mexico, through the.
Ticul Yucatán will stop using plastic
After a session of the City.
Young Yucatecan talent at Olimpo’s piano recital
Prior to the sixth edition of.
Businessmen ask for more trees on Tulum’s main Avenue
“Now that Avenida Tulum Norte will.
Odebrecht in Mexico… What is AMLO’s administration going to do about it?
MEXICO CITY, Sept 18 (Reuters) –.
Yucatecan engineer from Valladolid wins the Proser Prize
The School of Engineering of the.
Cozumel returns to lead the cruise industry in Mexico and South America
The general director of the Port.