GM Announces $691-Million Investment in Mexico Facilities

2013-06-26

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  • Strengthens the production of GM operations in Mexico
  • Enables two new fuel-efficient transmissions, expands Toluca Complex

MEXICO CITY – General Motors today announced it will invest $691 million for its manufacturing operations in Silao, San Luis Potosi and Toluca to build higher performing, more fuel-efficient powertrains. Mexico President Enrique Peña Nieto and other senior government officials were on hand to mark the importance of the investment to the country, GM and its customers.

"GM is about to reach 78 years in Mexico and we celebrate it with this new investment, which means more employment and development opportunities for the regions of Silao, San Luis Potosi and Toluca; and more advanced technology that will benefit our customers," said Ernesto M. Hernandez, president and managing director of General Motors de Mexico.

"The quality of our employees’ work continues transcending borders, allowing us to continue attracting investment to maintain a strong production of vehicles, engines and transmissions of outstanding quality for our customers around the world."

The investment will be allocated as follows:

  • $349 million for the Silao Complex for a new transmission plant and a new generation of 8-speed transmissions, which will offer improved performance and fuel efficiency
  • $131 million for the San Luis Potosi Complex to expand the next-generation transmission plant, and produce transmissions that will improve fuel efficiency, operation smoothness and reduce weight
  • $211 million of all-new investment to expand the Toluca Complex.
  • The Silao and San Luis Potosi investments total $480 million and complete the allocation of the $900 million GM Mexico announced in July 2011. Last July, GM announced the allocation of $420 million for other projects in San Luis Potosi and Silao.

With this announcement, GM reaffirms the commitment it has maintained with Mexico for nearly 80 years, and supports its vision to design, build and sell the world’s best vehicles and provide outstanding customer experiences.

General Motors Co. (NYSE:GM, TSX: GMM) and its partners produce vehicles in 30 countries, and the company has leadership positions in the world's largest and fastest-growing automotive markets. GM, its subsidiaries and joint venture entities sell vehicles under the Chevrolet, Cadillac, Baojun, Buick, GMC, Holden, Isuzu, Jiefang, Opel, Vauxhall and Wuling brands. More information on the company and its subsidiaries, including OnStar, a global leader in vehicle safety, security and information services, can be found at http://www.gm.com.

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