Mexico City: US auto giant General Motors (GM) on Thursday announced $3.6 billion in investment to be made in Mexico BY 2018.
The funds will be mainly used for moderniSing and expanding the firm`s manufacturing plants in the cities of Toluca, Ramos Arizpe, Silao and San Luis Potosi.
At a ceremony at the Los Pinos presidential residence, the president of General Motors` affiliate in Mexico, Central America and the Caribbean, Ernesto M. Hernandez, said he was confident that "the necessary economic conditions exist for these investments to translate into the creation of up to 5,600 new jobs."
According to the GM Mexico chief, that will also create almost 40,000 additional jobs in related industries.
With Enrique Pena Nieto in attendance, the GM Mexico official said that the investment package will improve the firm`s production capabilities, especially in the areas of manufacturing, motors and transmissions and vehicle assembly.
