arabtoday
Last Updated : GMT 17:23:16
Arab Today, arab today
Arab Today, arab today

Ford announces $2.5bn auto plant investment in Mexico

Arab Today, arab today

Arab Today, arab today Ford announces $2.5bn auto plant investment in Mexico

The Ford Motor Company
Mexico City - AFP

The Ford Motor Company unveiled Friday a $2.5 billion investment for engine and transmission plants in Mexico, the second major project announced in the country by a foreign auto power this week.

The US firm's plan to expand an engine plant in the northern border state of Chihuahua and build a transmissions factory in the central state of Guanajuato will create 3,800 jobs, the company said.

The investment was announced by Ford's president for the Americas region, Joseph Hinrichs, and President Enrique Pena Nieto at the Mexican leader's official residence in Mexico City.

Just two days earlier, Pena Nieto had invited Toyota executives to his residence for the Japanese auto giant's announcement that it was ending a new plant freeze with a $1 billion factory in Guanajuato to produce the Corolla sedan.

The back-to-back announcements "prove to the world that Mexico has conditions for competitiveness, conditions to be more productive and conditions to attract more investments," Pena Nieto said.

"This makes the world turn to look at Mexico," he said. "In the auto sector, Mexico is a world power."

Mexico overtook Brazil to become the world's seventh biggest auto producer last year. It also surpassed Japan as the top exporter of vehicles to the United States.

Economy Minister Ildefonso Guajardo said that, since Pena Nieto took office in December 2012, the government has announced 22.6 billion dollars in auto sector investments.

Ford said the new $1.1 billion gasoline-powered engine facility will be built within Ford's plant in the northern border state of Chihuahua to boost engine exports to the United States, Canada, South America and the Asia-Pacific region.

The company will also spend $200 million to expand the Chihuahua plant's production of I-4 and diesel engines, he said, turning the facility into the biggest engine plant in Mexico.

The new $1.2 billion transmission plant will be built on the premises of Ford supplier Getrag in the city of Irapuato, Guanajuato.

"This new plant – Ford's first transmission facility in Mexico – will produce two all-new automatic transmissions for key products primarily in South America, Europe and Asia Pacific as well as other North American markets," the company said in a statement.

Name *

E-mail *

Comment Title*

Comment *

: Characters Left

Mandatory *

Terms of use

Publishing Terms: Not to offend the author, or to persons or sanctities or attacking religions or divine self. And stay away from sectarian and racial incitement and insults.

I agree with the Terms of Use

Security Code*

Arab Today, arab today ford announces 25bn auto plant investment in mexico Arab Today, arab today ford announces 25bn auto plant investment in mexico

 



Arab Today, arab today
Arab Today, arab today Adidas Originals ‘reinterpreted’

GMT 14:52 2016 Thursday ,01 December

Adidas Originals ‘reinterpreted’
Arab Today, arab today At Milaidhoo Island, Maldives

GMT 08:42 2016 Wednesday ,07 December

At Milaidhoo Island, Maldives
Arab Today, arab today Paris's matchbox apartments

GMT 10:37 2016 Saturday ,24 September

Paris's matchbox apartments
Arab Today, arab today At least 50,000 Daesh fighters killed

GMT 07:57 2016 Friday ,09 December

At least 50,000 Daesh fighters killed
Arab Today, arab today 'Rookie' Trump must fall into line

GMT 08:02 2016 Tuesday ,06 December

'Rookie' Trump must fall into line

GMT 07:03 2016 Friday ,09 December

Apple inks first wind power deal in China

GMT 03:02 2016 Thursday ,08 December

GM Egypt opens new markets in 3 States

GMT 18:14 2016 Wednesday ,07 December

Samsung wins over Apple in $399m patent appeal

GMT 18:02 2016 Wednesday ,07 December

CMA: No major rules changes needed for Aramco IPO

GMT 15:39 2016 Wednesday ,07 December

Lego builds new company structure to grow brand

GMT 15:24 2016 Wednesday ,07 December

Dubai’s IMG plans another record indoor theme park
View News in Arabic - Business: أخبار الشركات
Arab Today, arab today
Arab Today, arab today
Arab Today, arab today The summer school raising aspirations

GMT 12:49 2016 Tuesday ,06 December

The summer school raising aspirations
Arab Today, arab today Ryan Gosling, Emma Stone immortalized

GMT 12:31 2016 Thursday ,08 December

Ryan Gosling, Emma Stone immortalized
Arab Today, arab today Australia's Rinehart, China group

GMT 10:02 2016 Friday ,09 December

Australia's Rinehart, China group
Arab Today, arab today Pluto's unruly moons

GMT 06:31 2015 Thursday ,04 June

Pluto's unruly moons
Arab Today, arab today Hyundai allows Saudi journalists

GMT 15:14 2016 Thursday ,01 December

Hyundai allows Saudi journalists
Arab Today, arab today Latest Infiniti QX to compete

GMT 13:16 2016 Saturday ,26 November

Latest Infiniti QX to compete
Arab Today, arab today France bets on Bollywood

GMT 10:48 2016 Tuesday ,06 December

France bets on Bollywood
Arab Today, arab today Swiss unveil stratospheric solar plane

GMT 13:47 2016 Thursday ,08 December

Swiss unveil stratospheric solar plane

GMT 11:20 2016 Monday ,05 December

By glorifying Soviet WWII 'myth'

GMT 10:52 2016 Tuesday ,06 December

Vanessa Redgrave makes directing

GMT 04:15 2016 Thursday ,30 June

World's largest uncut diamond fails

GMT 11:39 2016 Tuesday ,06 December

Indonesia expands protection

GMT 15:59 2015 Wednesday ,27 May

Seoul elevates gardening to high art

GMT 12:39 2016 Saturday ,26 November

Skin patch could help kids

GMT 13:17 2016 Friday ,25 November

Ajman Tourism launches time capsule

GMT 13:12 2015 Saturday ,09 May

Sheikh Sultan opens Sharjah Centre

GMT 09:53 2016 Sunday ,15 May

OMEGA official timekeepers
Arab Today, arab today
Arab Today, arab today
 
 Arab Today Facebook,arab today facebook  Arab Today Twitter,arab today twitter Arab Today Rss,arab today rss  Arab Today Youtube,arab today youtube  Arab Today Youtube,arab today youtube

Powered and Developed by FilmMatters

Copyright © 2016 Arabtoday

Developed by FilmMatters

© 2016 Arabtoday

arabtoday arabtoday arabtoday
arabtoday
بناية النخيل - رأس النبع _ خلف السفارة الفرنسية _بيروت - لبنان
arabtoday, Arabtoday, Arabtoday