Automakers have pledged nearly $900M in upgrades Ontario is ready to provide financial support to General Motors and Fiat Chrysler after the automakers pledged to upgrade Canadian plants as part of new labor contracts, the province’s economic minister said. “When you’re competing in a world where jurisdictions at times are paying 100 per cent of the capital costs of assembly plants, we also have to bring…

Southern Copper (NYSE:SCCO) is considering an investment in a lithium project in Mexico, CEO Oscar Gonzalez tells Reuters, a move that would be the miner's first venture into the metal that enjoys strong demand from electric vehicle makers. SCCO may be interested in a stake held by Bacanora Lithium (OTC:BCLMF), which has said it owned 10 lithium concessions in Mexico's Sonora state and was focused on…

- New axle assembly site in Puebla - New orders necessitate capacity expansion - Further investments in Mexico planned ThyssenKrupp today started production at a new automotive components site in Mexico. The plant in Puebla will assemble front axles for Volkswagen. The commissioning of this plant is a significant increase of the production capacity in Puebla. The existing assembly site had become too small…

In the USA's neighbor to the south, large manufacturers from all over the world are represented with plants, such as VW, Audi, BMW, Voestalpine or SAG. Mexico's export of cars and parts into the United States makes up a significant part of the US-Mexican foreign trade. In the dispute over illegal immigrants, US President Trump is now threatening to gradually raise import duties up to 25%, which could go…

SILAO, Mexico—Volkswagen is investing another $118-million in its engine plant in central Mexico, the automaker announced. The, located in the Guanajuato Puerto Interior industrial park in Silao, Mexico, produces Volkswagen’s turbocharged EA888 TSI engine used in a host of Volkswagen and Audi models. Volkswagen said the new investment will be used to equip the plant to manufacture new components to be used…

Mexico is the auto industry darling, Canada is struggling to retain a manufacturing footprint, and the U.S. is a house divided with most of the new automotive investment and jobs headed south of the Mason-Dixon line. The three countries are a united trading block under the North American Free Trade Agreement, or NAFTA, but they’re fierce rivals in the boardrooms where auto executives decide where to invest…

Potential project brings added global recognition for high-speed credentials A Chinese-led consortium has become the sole bidder to build a high-speed passenger railway line connecting Mexico City and the central city of Queretaro, according to an announcement by Mexican Ministry of Communications and Transportation. Queretaro is the center of Mexico's aerospace industry, and the government plans to run a…

Haitian International officially inaugurated its state-of-the-art manufacturing facility in Mexico, inviting official representatives of the state of Jalisco, the municipality of Acatlan de Juarez, top management of Haitian Group and 400 invited guests to take part in a formal ceremony. Representing a total investment of around $50 million, the new site covers a total of 92,000 m² (990,000-ft 2 ) for…

The Mexican government has announced plans to develop an affordable, locally produced electric vehicle after Tesla halted its plans to build a factory in the country. CEO Elon Musk cited concerns over potential tariffs on vehicles made in Mexico as reasons for Tesla's decision to pause plans for a Gigafactory. In response, President Claudia Sheinbaum is leading an initiative to develop a low-cost, fully…

Mexico is undergoing a fevered competition among states to win a potential Tesla facility in jostling reminiscent of what happens among U.S. cities and states vying to win investments from tech companies. Mexican governors have gone to loopy extremes, like putting up billboards, creating special car lanes or creating mock-ups of Tesla ads for their states. And there’s no guarantee Tesla will build a…