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BMW, Hyundai May Open Factories in Mexico
BMW AG and Hyundai Motor Co. are in separate discussions with officials in Mexico about opening assembly plants in the country, according to Bloomberg News.
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BMW AG and Hyundai Motor Co. are in separate discussions with officials in Mexico about opening assembly plants in the country, according to Bloomberg News.
Mexico's economy minister tells the news service that at least one of the carmakers could announce its plans next year.
Bloomberg notes that Audi, Honda, Mazda and Nissan currently are constructing final assembly plants in Mexico. Ford and General Motors are expanding capacity in the country.
Mexico's booming auto industry made 2 million vehicles in the first eight months of 2013, up 4% from the same period last year, according to the industry's trade group. Nearly 80% of the output is exported, primarily to the Americas.
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