The auto parts industry expects US$ 2 billion worth of Chinese investments in 2019
The new rules of origin of the USMCA, coupled with the trade disputes in the United States, will cause 30 Chinese auto part plants to arrive to Mexico next year, that together will invest nearly US$ 2 billion, assured Óscar Albín Santos, President of the National Auto Parts Industry.
According to the official, Nuevo Leon, Coahuila and Chihuahua will be the main destinations for these investments, due to their proximity to the U.S. market.
“There is a strong interest from Chinese companies to come to manufacture in Mexico to supply the North American market from here. For the coming year we are foreseeing that, in the beginning, some 30 companies will enter with an investment of at least 2 billion dollars,” said the official to Reforma paper (subscription required).