Lemtech invests US$10 million in Querétaro

QUERETARO - Lemtech Holdings, a Taiwanese Tier 2 company, is investing US$7 million in a first phase to start operations in Pedro Escobedo, Querétaro, with the aim of investing another US$3 million in the state to expand its metal stamping capacity.

In the state, the company will generate up to 60 jobs by the end of 2024 and intends to grow to 80 employees by 2025.

During the inauguration ceremony, Koh Ling Yu, General Manager of Lemtech Mexico, informed that Tier 2 works with tool design, tool manufacturing, tool assembly, stamping, robotic welding, injection molding and automated assembly processes.

Michael Hsu, President and Co-Founder of Lemtech Group, explained that since 2020 the group had been looking to set up in Mexico and in 2022 they were already studying potential locations, and it was in Querétaro where they found the right infrastructure and workforce to take advantage of the growth that the automotive industry is experiencing in the Bajío region.

Marco Antonio del Prete Tercero, head of the Secretariat of Sustainable Development of Querétaro (SEDESU), said that the municipality of Pedro Escobedo welcomes the new company.

He also reported that Queretaro's automotive industry grew by 9% over the previous year and manufacturing by almost 17%, highlighting the importance of the sector in the Bajio region and the connectivity that Queretaro has with other key entities in the Mexican automotive industry.