Volkswagen to invest $1 billion in Mexico plant
Volkswagen will start producing a new model at its plant in Mexico next year as it invests $1 billion to expand the site. The investment at its key Mexico plant, which produces Jettas, Boras and New Beetles, comes as carmakers around the world face slumping demand due to the economic downturn.
“The production of the new model will start in March or April of 2010,” spokeswoman Consuelo Minutti said.
Before the global financial crisis hit its worst last year, the German company said it would invest $1 billion in Mexico between 2008 and 2010, without specifying how it would spend the money.
Source: Auto News
