General Motors announced a new investment last week in the San Luis PotosÃ, Mexico manufacturing facility. The amount totals $87 million, in an effort to expand the productive capacity of the facility.
In an event attended by local authorities, the President and CEO of GM Mexico, Ernesto M. Hernandez, revealed to the press that this investment will add two new stamping presses to the current stamping line.
“We start this project looking to modernize and increase our working capacity in the stamping process in San Luis Potosi, which is key to producing vehicles like Chevrolet Aveo and Trax, which are very popular in the Mexican market,” Hernandez noted.
The Chevrolet Aveo is the best-selling car in Mexico for the last consecutive three years. The Chevrolet Trax is the top-selling small SUV in the Mexican market, and is also exported to South American countries and Canada.
In total numbers, 39% of the vehicles sold in Mexico are assembled in the GM plant, Hernandez cited.
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In unrelated news, BMW, Mercedes, Nissan, Subaru, Toyota, VW, non of whom took billions of US tax money, continue to invest billions in the US economy and build cars here.
I know the union parasites are partly to blame but there is more to it. I don’t like the word un-American, but GM is just that.
I have to differ on those other companies not taking tax money. All of them have received tax credits or breaks to either open or expand facilities in the U.S, They also have facilities in Mexico and South America. Their union “parasites” are at their home locations. All of them!
Good point, South Carolina and Tennessee both have offered huge breaks to get BMW and VW to build there.
You are correct as all have taken a lot of money from the states and have been given large tax breaks on their new plants.
Over the last few years GM has invested way more than $87,000,000 in US plants. I guess it would have been better to let GM go down the drain and let only foreign car company’s exist in America. I also guess all of the jobs saved don’t matter eighter.
Is this on top of the $5 billion previously announced?