GM to invest $540 mn in engine plant in MexicoJanuary 21st, 2011 - 11:48 am ICT by IANS
Mexico City, Jan 21 (IANS/EFE) The Mexican subsidiary of US automaker General Motors said Thursday it planned to invest $540 million to manufacture two types of low-emission engines at its plant in Toluca.The project will create 500 direct and 500 indirect jobs, and it will allow the plant to produce engines featuring new technologies that consume less fuel and operate more efficiently, the automaker said in a statement.
Toluca is located about 50 km west of Mexico City.
“This announcement is another important step for our customers and the entire GM team in Mexico,” GM de Mexico president and managing director Grace Lieblein said.
The investment “restores optimism and long-term viability to our operations at this complex, which has been a cornerstone for the industrial development of the region and of the automotive industry” in Mexico, Lieblein said.
The project will be completed in two phases, with the first focusing on the production of components and the second on manufacturing engines for the majority of the vehicles that GM produces in Mexico, Lieblein said.
GM has operated in Mexico for 75 years and employs about 11,500 people at its corporate offices in Mexico City and plants in Toluca, Silao, Ramos Arizpe, Cupuan and San Luis Potosi.
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Tags: automotive industry, cornerstone, efe, emission engines, general motors, gm, jan 21, jobs, managing director, mexican subsidiary, mexico city, mexico mexico, optimism, plants, ramos arizpe, san luis potosi, silao, term viability