Autos

GM to invest $1 billion in Mexico for electric vehicle production

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DETROIT — General Motors plans to invest more than $1 billion in Mexico to produce electric vehicles, the company announced Thursday.  

The investment in its Ramos Arizpe production complex is the first major announcement by the automaker for EV production in Mexico following billions of dollars in confirmed investments in the U.S. and Canada. 

The facility will begin producing at least one EV beginning in 2023, GM said. The company declined to discuss what vehicle or vehicles will be produced there. The plant as well as supporting facilities currently produce the Chevrolet Equinox and Chevrolet Blazer as well as engines and transmissions.

GM’s announcement comes amid a push from the…



Source cnbc.com

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