Continental will invest 60 million euros in Mexico to produce brake parts
According to foreign media reports, on March 1, German auto parts manufacturer Continental AG said it would invest about 60 million euros (approximately US$72 million) in the expansion of the company’s company in the state of San Luis Potosí, central Mexico. (San Luis Potosi) factory.
(Image source: Mainland China)
Continent said in a statement that it will produce brake system components in this new production area covering an area of u200bu200b20,000 square meters. The expansion is expected to be completed in October 2022. The company said that in addition to the 650 employees already employed at the San Luis Potosí plant, the expansion will create approximately 350 new jobs in the next three years.
Victor Hernandez, manager of this San Luis Potosí factory, said: “The decision to produce these high-tech components at the San Luis Potosí factory strongly signifies the continent’s trust in Mexico, especially for this region. Trust.'
This is welcome news for Mexican President Andres Manuel Lopez Obrador, whose alternative economic policies have scared many investors. Now that the Mexican economy is recovering from last year's economic recession (the worst level in 90 years), Lopez Obrado hopes that the new US-Mexico-Canada trade agreement (USMCA) will bring new investment and employment.
In December 2020, Continental stated that it will continue to focus on business areas above the market average, including interconnection, assisted and autonomous driving, software, new automotive architectures equipped with high-performance computing units, and high-growth areas. Tire and ContiTech business, as well as digital solutions and services (such as solutions and services for fleets and industrial customers). At the same time, the company will systematically strengthen its market leadership in the fields of safety solutions, display and control systems, surface materials and European passenger car tires, and ensure profitability.
