Photo: BMW
BMW officially confirmed and signed a deal with the Mexican government yesterday, pending a $1 Billion investment in the North American country for a new plant. The location chosen was the state of San Luis Potosi.
The decision shows that the German company wants to expand its commitment inside NAFTA countries, looking for alternatives to the European market that is still struggling. With it, BMW now invested $2 billion in the region, after the $1 billion for the Spartanburg plant.
Over 1,500 new jobs will be created in the area, with the production being scheduled to begin in 2019. The plant will have a capacity of 150,000 units a year and will also bring several additional jobs in adjacent services.
“Mexico is an ideal location for the BMW Group and will be another important plant within our production network. We will invest one billion US dollars in the new production site over the next few years,” said Harald Krüger, member of the BMW AG Board of Management, responsible for Production.
“The Americas are among the most important growth markets for the BMW Group. We are continuing our strategy of ‘production follows the market’,” he continued.
The signing ceremony took place at the “Los Pinos” official residence of the President in Mexico, yesterday. Mexican President Enrique Peña Nieto, Mexican Secretary of Economy Ildefonso Guajardo Villarreal and the Governor of San Luis Potosí, Dr. Fernando Toranzo Fernández attended.
The models that will be built in Mexico will be announced at a later date but rumors have it that they might include BMW and MINI models.
Over 1,500 new jobs will be created in the area, with the production being scheduled to begin in 2019. The plant will have a capacity of 150,000 units a year and will also bring several additional jobs in adjacent services.
“Mexico is an ideal location for the BMW Group and will be another important plant within our production network. We will invest one billion US dollars in the new production site over the next few years,” said Harald Krüger, member of the BMW AG Board of Management, responsible for Production.
“The Americas are among the most important growth markets for the BMW Group. We are continuing our strategy of ‘production follows the market’,” he continued.
The signing ceremony took place at the “Los Pinos” official residence of the President in Mexico, yesterday. Mexican President Enrique Peña Nieto, Mexican Secretary of Economy Ildefonso Guajardo Villarreal and the Governor of San Luis Potosí, Dr. Fernando Toranzo Fernández attended.
The models that will be built in Mexico will be announced at a later date but rumors have it that they might include BMW and MINI models.
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