LEÓN, Guanajuato — The Economy Ministry estimated that by 2020 Mexico will move from seventh to fifth place in global vehicle production, with the production of five million units, Notimex reported.
The head of the federal Economy Ministry, Ildefonso Guajardo Villarreal, said that in the last three years Mexico was able to attract investments of nearly $26 billion dollars in the automotive industry, with which the installation and expansion of five plants were achieved, to multiply its capacity.
During the laying of the Michelin tires plant foundation stone in León, he added that with such investments the production of five million vehicles per year by 2020 will be achieved, which “will lead us from the seventh to fifth place of largest producers”.
The official also said that the tire production in Mexico is growing, which today amounts to 21 million pieces, of which 75 percent is exported.
more recommended stories
Might a tropical depression form in the Gulf of Mexico?
A non-tropical storm over the Gulf.
The construction of 450 miles of border wall starts in Arizona
YUMA, Ariz. (AP) — On a.
AMLO’s administration will investigate officials over 2014 case of 43 missing students from Ayotzinapa
MEXICO CITY (Reuters) – Mexican prosecutors.
Mexican scientists win Breakthrough Prize
Project Event Horizon Telescope (EHT), in.
Quintana Roo wants to attract more North American retirees
Cancún, Quintana Roo, Mexico – La Asociacion.
First woman to climb the 4 highest mountains in the world is a Mexican
Mexican world-class mountaineer Viridiana Álvarez is an.
7 Inventions from Mexico that changed the world
If you were going to go.
Barbie celebrates Day of the Dead
Mexico City (AFP) – Barbie has.
Mexico is 12.7% down in Auto Production Exports
Mexico, one of the biggest exporters.
Mexico’s vigilante groups defy president to fight cartels
SANTA MARIA OSTULA, Michoacán, Mexico (Reuters).