Ford Motor Co. plans to build a new auto facility in the Mexican state of San Luis Potosi, some Mexican officials familiar with company plans told Reuters.
The announcement on Ford’s intentions will be made during the first quarter of the year, as the investment in the central Mexican state of San Luis Potosi has been confirmed last week by three Mexican officials. The new car plant is said to build around 350,000 vehicles annually, according to two officials familiar with the matter, and Ford plans to spend over USD $1.5 billion for the entire facility.
The automaker declined to comment on the rumors. However, it is likely that Ford plans to build the Focus compact car there, as the company said back in November that it would stop making the model at the Wayne, Michigan, factory beginning with 2018.
This supposition is also being backed by the United Auto Workers union officials who have said the replacement for the current Focus will be made in Mexico. More and more automakers are rumored to move some part of their production to Mexico to cut labor costs, with infrastructure, supply base and productivity all improving, analysts say.
It has also been reported that, besides Ford, General Motors and Fiat Chrysler Automobiles, the other two auto-giants from Detroit, are planning to move some of their smaller cars production from North America to Mexico, the expectation being for the new Chevrolet Cruze hatchback and the Jeep Compass replacement to be built in the country, according to people familiar with the companies’ strategy.
Analysts project that GM, Ford and Fiat Chrysler will produce around 40 percent of their small cars for the North American market in Mexico in five years’ time, up from 18 percent in 2014.
more recommended stories
Mérida teacher accused of sexual harassment suspended and under investigation
“Prepa Uno’s school teacher accused of.
Luxury Maldives resort looks for intern to work with turtles
Luxury travel brand Coco Collection has.
Mexico’s Yucatán Peninsula: Land of Legend and Allure
ESTES VALLEY LIBRARY Presents: “Our Wonderful World”.
U.S. authorities are investigating Mexican president Enrique Peña Nieto (El Universal)
US authorities are investigating former Mexican president.
Federal officials declare that there is no energy emergency in Yucatan
There is no operational state of.
Maya Train route modified, it will run from Valladolid to Tulum
CANCÚN, Q. Roo.- The Maya Train.
Yucatecan injured with firearm in Cancun, in serious condition
A Yucatecan citizen is reported in critical.
Cases of men publicly masturbating in front of women on the rise in Mérida
Motorists are approaching women in the.
Judge gives two final injunctions against St. Lucia airport
A federal judge of the State.
Three horses were badly hurt during a “Lazo” tournament in Panabá, Yucatán
TIZIMÍN, YUCATÁN.- Three horses were badly.