GM quietly invests US$ 800 million in Mexico to avoid political turmoil
After presidential candidate Donald Trump bashed Ford Motor Co. for announcing a US$ 1.6 billion investment in Mexico to make small cars, seems like General Motors (GM) has learned the lesson and decided to go low profile on its plans for expansion.
According to Bloomberg, “GM is advancing on an US$ 800 million investment for its global small-car lineup that includes a factory retooling in San Luis Potosi state. That plant and another facility in Mexico will also build the all-new Chevy Equinox sport-utility vehicle next year,” said the news agency, citing “people familiar with the matter” as sources.
“The automaker has only said that the new Equinox will be built in a factory in Canada and two other sites, keeping mum about Mexico and avoiding both attention from Trump and the chance that the news might have roiled labor talks in Canada last month,” revealed the media outlet today.
Bloomberg made clear that, contrary to previous years when GM used to announce loud and clear its investments in Mexico, the automaker has not uploaded press statements about Mexican operations on its website over the last 10 months. “There has been no information about the Equinox in Mexico, nor on where all of the US$ 800 million pledged in November would be spent,” said the business news network.