General Motors will invest $3.6 billion to double its production capacity at numerous facilities in Mexico through 2018.
“With this investment, General Motors will double its production capacity of vehicles, engines and transmissions,” said Mexican Economy Minister Ildefonso Guajardo.
GM has already invested $1.4 million over the past two years.
Hernandez said that GM’s investments will help expand four of its manufacturing complexes, modernize production lines, and develop new technological advances in autos and auto parts. Additionally, 5,600 jobs will be created.
“GM is a company that, even in the most complex global economic environment, has seen with clarity the efforts made by this government to put forward structural reforms that improve the overall business environment and make Mexico an attractive investment opportunity,” added Hernandez.
GM produces an annual average of 890,000 motors, 1.2 million transmissions, and about 647,000 vehicles in Mexico. Eighty percent of those vehicles are exported.
Mexico is now the seventh-largest auto producer in the world.
Comments
American tax dollars at work. Thanks UAW, now it makes no financial sense for Obama Motors to build cars here anymore. Meanwhile, Honda, Toyota, VW, Subaru can make high quality stuff in the USA. Even Airbus (European Boeing rival building plant in Alabama) believes in the American worker more than tired, old GM. Put ‘er out to pasture already.
Keep jobs in America !! Help America not Mexico!! So wrong on so many fronts!!
American jobs? Where in the world is Mexico if not in America? Europe perhaps?
Si, pero me recuerde lo que un presidente mejicano suspiraba: “Pobre Mexico — tan llejos de diós e tan cerca de EE.UU.”
Only until free trade agreements with Belize and Guatemala, and The Mexican workers asking for decent wages, then farther south we go….
At the expense of Canadian jobs. I realize that GM has a business to run, but pulling your manufacturing out of Canada is not going to go over well with the car buying (and tax paying) public.
I’d rather pay a little more for an American or Canadian built car anyday. Keep Oshawa open, it makes good cars.
I understand that GM is a global automaker and that the profits they make in foreign countries betters them here back at their headquarters, but still, have they not forgotten about Orion, Lordstown, Fairfax, or Lansing Delta Township Assemblies? They all could use some new models in their facilities. If you ask me, I say that Ramos Azripe should either be closed down or used for strictly Mexican-Market autos.
-Orion should be producing the Spark, Sonic, Trax, and Encore.
-Lordstown should be producing the Cruze and Verano
-Fairfax should be producing the Malibu and Regal
-LDT should be producing the Traverse, Acadia, Enclave, and carryover Equinox’s.
I have a 2013 ATS. I love the car as I love many of GM’s cars. However if they’re going to invest all this money into Mexico and pull out of Canada then there’s plenty other cars I also love and can buy.