Germany's BMW plans to invest US$1 billion in Mexico factory
July 5, 2014, 12:00 am TWN
MEXICO CITY--Germany's BMW announced Thursday it will spend US$1 billion to build a new luxury car factory in northern Mexico that will start production in 2019 as part of an effort to expand the company's presence in the United States.
BMW board member Harald Kruger said the plant in the northern state of San Luis Potosi will have the capacity to make 150,000 cars a year while employing 1,500 people.
He made the announcement in Mexico City, accompanied by President Enrique Pena Nieto.