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 ...
So they team up with China and we are expected to take they dregs of society?
This is laughable.
Ford had planned for 2.5 billion to be invested, more than ten times the investment. Forty percent of that investment is to buy the Mexican government to manage the corruption where corruption is where every official and their pet dog have their hand out for payola in order to advance from step A to step B.
Example: berths at ports for ships coming and going, maintenance of water supply, etc. every resource, utility has a line of ‘officials’ that want unspecified payoff and no one knows when any payment is paid off.
The Chinese can’t even hack Nigeria or Chana, they won’t be able to hack Mexico. And even if they can cut it for a year or two, the marketing of whatever they produce will be daunting because world markets outside the US are not enamored with China or Mexico. It boils down to the attractiveness of their business cultures which is not there.
2500 cars a year? Literally a drop in the bucket for the world car market. And it makes sense for them to be built in Mexico as they probably don’t meet US Safety or quality control standards.
CC
I’m glad for Mexico. But please mr Trump block the entry of these Chinese cars into USA. At least until the Chinese build some here in USA too. We need jobs obama has destroyed. Fair is fair. Build a plant in USA if you want access to our market.
So these two jokes will team up to make Chinese knock-offs cheaply and poorly in Mexico?
Whatever. Just keep the product over there.
Has anybody noticed that “Omar Fayad” is not a particularly Hispanic sounding name?
CC
They won’t pass US standards.
Believe me, if the U.S. and China ever warred against each other Mexico would ally with China. I can’t think of a more reprobate nation than Mexico.
See Mexico ....China has a Great Wall and see how well you’re getting along with them
Even the Chinese never buy Chinese made cars ,you have to throw them away after 1 year
There’s a whole U.S pacific fleet between Mexico and China.
They would be better off running to Russia to rattle our cage. 200 million is chump change. 200 million is just the bribe. The real costs come after.
The pressure and the scrutiny needs to be kept up on Mexico. They really have been using the U.S while keeping us at a distance from their internal affairs (corruption, cartels).
Mexico is not Puerto Rico.
So what! Just don’t sell that crap in the US. China has no idea what they are getting in to. Let ‘em have some fun!
The government might, but not so sure about the people! The Mexican citizens hate the rich class with a passion.
I’m all for China dumping bad investment into loser nations and habitually dysfunctional economies.
Btw, Mexico’s only economic problem is Mexicans. All those who lead the grossly corrupt kleptocracy and those who keep those degenerate thieves in power and those who believe commiescumism is the only way to fix their $***.
Are they planning on selling these in Mexico, or China?
the new SUVs will be suniquely outfitted with new triple-S cup holders...SoySauce and Salsa
Your free trade dollars at work.
I remember when they built VW sedans in Pueblo, they were cheap but you couldn’t bring them into the states unless they had a lot of work, mainly emissions (?)
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