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‘BMW’ Plans Major Investment In Mexico: Minister

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'BMW' Plans Major Investment In Mexico: Minister

(CTN NEWS) – MEXICO CITY – According to Mexican Foreign Minister Marcelo Ebrard, the German automobile manufacturer BMW (BMWG.DE) is contemplating a new substantial investment in the state of San Luis Potosi, located in the center of Mexico and where the business already operates a facility.

A day before, Ebrard and President Andres Manuel Lopez Obrador had announced that BMW was investing approximately 800 million euros ($866.64 million) in San Luis Potosi.

Although they did not specify whether this was a new expenditure in Mexico or not.

Ebrard told reporters at a diplomatic function that the president had ordered them to speed up investments in their country.

“He has already announced that BMW will be making a very important investment in San Luis Potosi,” the narrator says.

Mexican Foreign Secretary Marcelo Ebrard speaks ahead of a meeting with U.S. Secretary of State Antony Blinken in the Treaty Room of the State Department in Washington, DC, U.S., December 16, 2022. Olivier Douliery/Pool via REUTERS

The minister of foreign affairs did not provide any details regarding using the investment money.

In 2019, BMW inaugurated its one billion dollar facility in San Luis Potosi, one of its three operations in Latin America.

The M2, the 2 Series Coupe, and the 3 Series are some vehicles it now produces.

A request for comment from Reuters was not immediately met with a response from BMW.

An employee works on the engine of a BMW 3 Series car during a media tour at the new plant of German automaker BMW in San Luis Potosi, Mexico June 6, 2019. REUTERS/Josue Gonzalez

According to Ebrard, Lopez Obrador talked about the investment with his counterpart in Germany and with Germany’s automotive industry. German President Frank-Walter Steinmeier toured Mexico in September.

On Thursday, Lopez Obrador stated that he and Ebrard would travel to San Luis Potosi in February.

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