BMW to Invest $1 Billion, Open Plant in Mexico
Published at
Photo by Harold Cunningham/Getty Images(MEXICO CITY) — The BMW Group announced plans on Thursday to invest about $1 billion to open a factory in San Luis Potosi, Mexico.
According to Forbes, BMW follows Volkswagen, Audi and other car manufacturers in the move to build plants in north-central Mexico.
“Mexico is an ideal location,” a statement from BMW said, calling the factory “another important plant within our production network.” The company expects to create several thousand jobs at the plant site and in the surrounding area and says production is expected to start in 2019.
BMW hopes that the Mexico plant will produce about 150,000 vehicles per year to help them “take advantage of the growth potential in the entire region.”
Follow @ABCNewsRadio
Copyright 2014 ABC News Radio