autonews.com
MEXICO CITY (Reuters) -- Volkswagen AG will unveil plans next week to
invest around $1 billion in Mexico to expand its Puebla assembly plant,
a person familiar with the matter said on Thursday.
The investment, aimed at supporting production of the Tiguan compact
crossover, is due to be unveiled on Monday and is expected to generate
about 1,900 jobs, the person said.
As of December, total investment in the auto sector in Mexico had
reached $19 billion under President Enrique Pena Nieto, who took office
two years earlier, the government says.
Volkswagen, which opened its sprawling Puebla plant in 1964, last
year produced 475,121 vehicles out of about 3.2 million autos
manufactured in the country, data from the Mexican Automotive Industry
Association show.
Mexico is the seventh biggest manufacturer of autos and the fourth
largest exporter in the world, according to AMIA. More than 80 percent
of those vehicles are destined for sale abroad.
Total auto production increased 27 percent last year, compared to
2013, and AMIA has predicted that Mexico will produce more than 5
million vehicles by 2020.
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