Connect with us

Hi, what are you looking for?

Capital Business
Capital Business


BMW to invest 1 bn euros in new Mexican plant

A worker fixes a BMW logo on a new car at the company's plant in Regensburg, southern Germany, on March 13, 2014/AFP

A worker fixes a BMW logo on a new car at the company’s plant in Regensburg, southern Germany, on March 13, 2014/AFP

FRANKFURT, July 2 – German top of the range carmaker BMW is to invest around 1.0 billion euros ($1.3 billion) in a brand new factory in Mexico, an industry source told AFP on Wednesday.

The plant will have capacity to build around 150,000 cars each year starting in 2019, the source said, speaking on condition of anonymity.

Contacted by AFP, the Munich based maker declined to comment on the information, but a spokesman pointed out that the company was scheduled to make an announcement on Thursday.

A factory in Mexico would boost BMW’s ability to supply the North American market. It already has an assembly plant for sports utility vehicles (SUVs) in Spartanburg in the United States.

Mexico appears to be increasingly attracting car makers.

Last week, Renault-Nissan and Daimler announced they would set up a joint venture in the country to make compact cars.

The Franco Japanese and German groups, which have cooperated since 2010, said they would create 5,700 jobs and invest 1.0 billion euros in the construction of a brand new plant in Aguascalientes, north central Mexico.

Click to comment

More on Capital Business

Executive Lifestyle

NAIROBI, Kenya, Mar 12 – The country’s super wealthy individuals are increasing their holding of bonds, gold and cash, a new report by Knight...

Ask Kirubi

NAIROBI, Kenya, Mar 9 – Businessman and industrialist Dr. Chris Kirubi has urged members of the public to exercise extreme caution when making any...

Ask Kirubi

NAIROBI, Kenya, Mar 24 – Businessman and industrialist Dr. Chris Kirubi is set to own half of Centum Investment Company PLC, following a go-ahead...

Ask Kirubi

It is without a doubt that the COVID-19 pandemic has caught the whole world by surprise. Although its full impact is yet to be...


NAIROBI, Kenya, Mar 18 – Commercial Banks have been ordered to provide relief to borrowers on their personal loans, with loans eligible from March...


NAIROBI, Kenya, Jun17 – Kenya’s tea leaves manufacturer Kericho Gold, has been awarded the Superbrands Seal by Superbrands East Africa for their quality variety...


NAIROBI, Kenya, Apr 13 – As the local telecommunications industry gears up to roll out 5G networks in the country, the Communications Authority of...


NAIROBI, Kenya, Mar 22 – Airtel Kenya is offering free internet access for students in order to enable continued learning at home in the...