Chinese automaker joins Carlos Slim to build SUVs in Mexico
Mexico’s Giant Motors and China’s Anhui Jianghuai Automobile (JAC Motor), along with distributor Chori Company Limited, unveiled plans to invest over US$ 212.4 million in a Mexican car plant.
Hidalgo state governor Omar Fayad said the plant will begin with a capacity of 11,000 vehicles annually, with output ultimately rising to 40,000. The initial phase of the project is expected to create 1,000 direct and 4,500 indirect jobs.
JAC Motor’s SUV S2 and SUV S3 would be the first vehicles to be assembled, but the facility may also produce electric cars.
Giant Motors, an auto manufacturer, is partially owned by Carlos Slim’s Grupo Financiero Inbursa.