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.
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.