Chinese and Mexican companies join to invest 200 million USD in new car plant

Mexico’s Giant Motors and China’s Anhui Jianghuai Automobile, along with distributor Chori Company Limited, will invest US$212.46 million in an existing plant to build SUVs in the central state of Hidalgo

Mexican tie-up on Wednesday unveiled plans to invest over $200 million in a car plant in Mexico, bucking recent uncertainty on the outlook for free trade after the election of U.S. President Donald Trump.

Mexico’s Giant Motors and China’s Anhui Jianghuai Automobile (JAC Motor), along with distributor Chori Company Limited, will invest more than 4.4 billion pesos (U$212.46 million) in an existing plant to build SUVs in the central state of Hidalgo, state governor Omar Fayad told a news conference.

The tie-up may also produce electric cars, Fayad added.

The outlook for Mexico’s car industry has been racked by uncertainty since the election of Trump, who has threatened to impose punitive tariffs against carmakers in Mexico seeking to sell to the United States.

Source: www.eluniversal.com.mx