Slim brings the Chinese auto company JAC to Mexico
Carlos Slim is bringing JAC automotive corporation into Mexico. Giant Motors will start manufacturing vehicles from this Chinese firm at its new plant in Sahagun, Hidalgo. A US$220 million investment will go towards installing the new facilities. Elias Massri Sasson, General Director of Giant Motor, said that they are looking to produce 40,000 units annually, although it will only be 10,000 during its initial stage. This plant will generate 1,000 direct jobs and 4,500 indirect jobs. Massari affirmed that there will be announcements over the next months of new JAC agencies opening in Mexico, as well as presentations of the available models.