Mexican carmakers plan to invest $US5.5 billion over the next three years in a bid to provide a wider range of products for the US market, the Mexican automobile association said on Monday, according to Reuters.
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The spending will reinforce the range of products assembled in Mexico for export to the United States, which buys more than 80% of the cars made in Mexico, Mexican Automotive Industry Association (AMIA) head Cesar Flores told Reuters.
He reportedly said that new announcements due “soon” will include a “change in model strategy” affecting what car models are exported to Canada and the United States.
Investment announcements that have already been made and announcements yet to be made should total close to $5.5 billion, Flores reportedly added.
