General Motors announced today that it will invest $691 million for its manufacturing operations in Silao, San Luis Potosi and Toluca to ready them for manufacturing of improved “higher performing, more fuel efficient” powertrains. Mexico President Enrique Peña Nieto and other senior government officials were on hand during the announcement in Mexico City.
The investment will be allocated as follows:
- $349 million for the Silao Complex for a new transmission plant and a new generation of 8-speed transmissions, which will offer improved performance and fuel efficiency
- $131 million for the San Luis Potosi Complex to expand the next-generation transmission plant, and produce transmissions that will improve fuel efficiency, operation smoothness and reduce weight
- $211 million of all-new investment to expand the Toluca Complex.
The Silao and San Luis Potosi investments total $480 million and complete the allocation of the $900 million GM Mexico announced in July 2011. Last July, GM announced a $420 million investment for other projects in San Luis Potosi and Silao.