Auto parts maker Vimercati to open $200 million plant in Mexico, state governor says
Reuters
Published Aug 03, 2023 02:43PM ET
By Brendan O'Boyle
MEXICO CITY (Reuters) - Auto parts maker Vimercati will invest $200 million to open a plant in the northern Mexican state of Nuevo Leon, the state's governor, Samuel Garcia, said on social media on Thursday.
Garcia was scheduled to meet with Vimercati executives on Thursday as part of a tour of India. The company, which is owned by India's Viney Corporation, did not immediately respond to a request for comment.
Garcia has touted Nuevo Leon as a "global hub" for electric vehicle production, anchored by a $5 billion Tesla (NASDAQ:TSLA) factory in the state's capital of Monterrey announced earlier this year, the Elon Musk-owned carmaker's first in the Latin American country.
In May, Garcia announced Korean carmaker Kia would begin production of a new line of electric vehicles at its plant in the state.
The governor's tour is set to include a meeting on Monday at the Mumbai headquarters of India's massive business conglomerate Tata, as part of an effort to secure new investments in Nuevo Leon from its Tata Motors (NYSE:TTM) arm, Garcia's office said in a statement earlier in the week.
The information technology-focused Tata Consultancy Services opened a facility in May in Nuevo Leon in an investment promising to create 2,500 jobs.
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Written By: Reuters
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