Posted on 02/02/2017 12:31:08 PM PST by Sybeck1
Feb 1 A Chinese-Mexican tie-up on Wednesday unveiled plans to invest over $200 million in a Mexican car plant in a welcome sign of confidence even as threats from U.S. President Donald Trump have paralyzed investment plans by U.S. companies.
Mexico's Giant Motors and China's Anhui Jianghuai Automobile (JAC Motor), along with distributor Chori Company Limited, will invest more than 4.4 billion pesos ($212.46 million) in an existing plant to build SUVs in the central state of Hidalgo, state governor Omar Fayad told a news conference.
Up to 10,000 vehicles could be produced at the plant within the next four years, Fayad said, adding JAC's SUV S2 and SUV S3 would be the first vehicles to be assembled.
Giant Motors, an auto manufacturer, is partially owned by Carlos Slim's Grupo Financiero Inbursa.
The outlook for Mexico's car industry has been racked by uncertainty since the election of Trump, who has threatened to impose punitive tariffs against carmakers in Mexico seeking to sell to the United States.
(Excerpt) Read more at reuters.com ...
Good luck if they expect to sell ANY of them to the U.S.!
With Mexico's quality Control, and China's inability to stop cheating on quality* (without mandatory American quality control,) they can ship the junk around the world and pray.
No American with a brain would buy one, even without a 30% import duty!
*Ever buy Chinese "stainless steel" appliances, flatware and other kitchen tools?
Emissions and safety glass, IIRC. Mexico is still a great place for parts if you’re a classic beetle enthusiast. They kept making them until 1999.
CC
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