Mexico’s 2012 auto investments seen at $6B
Nov 20, 2012 | 04:20 PM
| Rodrigo Alonso
Tags
Mexican auto industry,
automotive,
ProMéxico,
Luis Olivé Hawley,
Nissan,
General Motors,
Volkswagen,
Honda
Fiat
MEXICO CITY — Mexico’s auto industry will end 2012 with an internal investment of about $6 billion, double the year-ago level.
Nearly half of that amount, or $2.97 billion, has been allocated to 23 automotive projects from Asian companies, according to Luis Olivé Hawley, head of government agency ProMéxico’s unit for promoting international investment and business.
Last year, companies from South Korea, Japan, China and India carried out 12 automotive projects in Mexico with a total investment of $1.93 billion. The Organization for Economic Cooperation and Development has ranked Mexico in global automotive manufacturing, which is why Asian investments are returning to the country, he told AMM sister publication Steel First. ....
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