BMW Group to Build Plant in Mexico
The BMW Group will invest $1 billion over the next few years to build a new plant in Mexico in close proximity to the city of San Luis Potosí. Production is scheduled to begin in 2019. The project is expected to create around 1,500 jobs. BMW will announce which models will be build at the site in the future, but the annual capacity calls for 150,000 units. This news follows the company’s announcement in March that it will invest $1 billion at its existing plant in Spartanburg, S.C., to increase annual production capacity to up to 450,000 vehicles by the end of 2016. The BMW Group is also currently building a plant in the state of Santa Catarina in Brazil.