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MEXICO CITY, Mexico - Germany's BMW says it will invest the equivalent of R10-billon to build a new factory in northern Mexico.
BMW board member Harald Kruger made the announcement on Thursday (July 3 2014) in Mexico City, saying the plant in the northern state of San Luis Potosi would have the capacity to make 150 000 cars a year.
The automaker has 28 factories in 13 countries.
MERC/RENAULT THERE TOO
The announcement comes a week after automakers Daimler and Renault-Nissan said they would invest R16-billion in a factory to make premium compact cars in Mexico.
Mexico has become a preferred spot for automakers because of low wages, its proximity to the US and free trade agreements with 45 countries.
BMW board member Harald Kruger made the announcement on Thursday (July 3 2014) in Mexico City, saying the plant in the northern state of San Luis Potosi would have the capacity to make 150 000 cars a year.
The automaker has 28 factories in 13 countries.
MERC/RENAULT THERE TOO
The announcement comes a week after automakers Daimler and Renault-Nissan said they would invest R16-billion in a factory to make premium compact cars in Mexico.
Mexico has become a preferred spot for automakers because of low wages, its proximity to the US and free trade agreements with 45 countries.
