It has been reported that French automaker Peugeot has cancelled plans to establish a manufacturing plant in Mexico, in the short-term future.
Peugeot began looking at a range of possible locations in which to build a plant at the beginning of the year, and eventually chose a site in the central Mexican state of San Luis Potosi.
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Although Peugeot has not yet issued an official statement, the company is apparently looking to take advantage of the recently signed Mexico-EU free trade to import vehicles to Mexico in lieu of establishing a plant in the country.
The company earlier had planned to invest 200 million dollars in an assembly plant for sub-compact models in Mexico.
