GM to Invest $691 Million in Mexico Operations

General Motors Co. says it is spending $691 million in Mexico to expand transmission and vehicle production capacity there part of a $900 million investment plan the company announced two years ago.

GM plans to invest in a new $349 million plant in Silao to build 8-speed transmissions and a $131 million expansion of its factory in San Luis Potosi to prepare for its next generation of transmissions. The company adds that it will spend $211 million for unspecified expansion of production at its engine and casting operations in Toluca.

GM has not indicated when any of the three projects will be completed. The company currently employs nearly 15,000 people at four manufacturing facilities in Mexico.