Volkswagen’s Mexico unit said on Thursday the German carmaker plans to invest $233.5 million
Volkswagen’s Mexico unit said on Thursday the German carmaker plans to invest $233.5 million in a new production line for motors at its plant in the central Mexican state of Guanajuato.
“Volkswagen has found in Guanajuato fertile ground for a new generation of economic development,” Steffen Reiche, president of the executive council of Volkswagen’s Mexico unit, said in a presentation at the plant in the central state of Guanajuato.
The company said it would begin manufacturing the new line of motors, called EA211, in 2021.
Christopher Glover, executive vice president of production and logistics, said the investment would increase the plant’s production capacity by 75%. The company said it would begin manufacturing the new line of motors, called EA211, in 2021.
The announcement follows the election defeat of U.S. President Donald Trump. Trump took office in 2017 threatening to punish car makers who built up capacity in lower-cost Mexico, leading to a marked chill in investment in the United States’ southern neighbour.
(This story has not been edited by NDTV staff and is auto-generated from a syndicated feed.)
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