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BMW Plans $1 Billion Auto Plant in Mexico
BMW AG plans to open a $1 billion assembly plant in San Luis Potosi in 2019.
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BMW AG plans to open a $1 billion assembly plant in San Luis Potosi in 2019.
The factory will initially employ 1,500 people and be able to make about 150,000 vehicles per year. BMW sold 14,000 vehicles in Mexico in 2013.
The company says a "decisive" factor in choosing Mexico is its numerous free-trade agreements.
BMW did not say which models it will make in Mexico. Earlier reports predict the factory will build either Mini and 1 Series minicars, which will share the same front-wheel-drive platform, or the rear-drive 3 Series small sedan, which accounts for more than half the company's sales volume in North America.
The Mexico plant announcement comes less than four months after BMW revealed a $1 billion plan to hike annual output at its SUV plant in Spartanburg, S.C. The 50% expansion will enable the factory to produce 450,000 units annually, making it BMW's largest assembly plant anywhere.
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