(MENAFN) Ford Motor Group unveiled a USD2.5 billion investment for engine and transmission plants in Mexico, the second major project announced in the country, The Peninsula Qatar reported.
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.
Mexicans officials said the new investments will boost the country's goal of becoming a top five auto producer in the world by 2020, producing a total of 5 million vehicles per year.
Ford said its 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."
Legal Disclaimer:
MENAFN provides the information “as is” without warranty of any kind. We do not accept any responsibility or liability for the accuracy, content, images, videos, licenses, completeness, legality, or reliability of the information contained in this article. If you have any complaints or copyright issues related to this article, kindly contact the provider above.