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Volkswagen: $1 billion investment in Mexico to build new model

Volkswagen
Volkswagen will invest $1 billion in Mexico to build a new model, which one is still top secret.

A Volkswagen spokeswoman in Mexico told Reuters that Volkswagen has invested $1 billion to expand its Mexico facility to start producing a new model. Volkswagen’s investment is a sign of confidence for Mexico’s auto industry, which accounts for a fifth of the country’s total exports. The plant currently builds Jettas, Boras and new Beetles.

“The production of the new model will start in March or April of 2010,” spokeswoman Consuelo Minutti said.

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Source: eGM Cartech