/ BMW, Industry, News / BMW officially announces Mexico plant investment

BMW officially announces Mexico plant investment

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BMW officially announces Mexico plant investment

After it was running the mile in the rumor mill, with all details unveiled, yesterday the world’s largest premium automaker officially unveiled its $1 billion Mexican factory investment.

After Audi and recently announced Daimler – Nissan plant investment, BMW is also moving to expand North American operations into Mexico, a country that enjoys increased investments due to its surging industrial prowess and tax-free access to the US market.

In a move that seeks to also reduce the company’s dependence on the high-cost manufacturing base in its German home country, BMW outlined the plan to build a new manufacturing facility in the central Mexican city of San Luis Potosi.

“Mexico is an ideal location for the BMW Group,” production chief Harald Krueger said in a statement. “We are continuing our strategy of ‘production follows the market.’”

“With this investment, Mexico is stepping up to premium-level production of global vehicles,” added Mexican Economy Minister Ildefonso Guajardo.

The new facility should begin model production in 2019 – and although the company did not detailed what cars would be assembled, several Mexican and European officials said the rumor surrounds the 3 Series model – and the initial workforce should stand at 1,500 people, churning out 150,000 units annually.

Via Reuters

by Aurel Niculescu (my Google+) - Friday, July 4th, 2014 - filed under BMW, Industry, News. Image credit: .
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