GM to double Mexico production capacity

General Motors has confirmed plans to significantly expand its Mexico operations, doubling production capacity in the country within the next few years.
The ambitious goal is expected require approximately $5 billion in investment funds, $1.4 billion of which has already been spent, according to a Reuters report quoting GM’s head of Mexico operations, Ernesto Hernandez.

The company has no immediate plans to build new factories. Instead, four existing facilities will be overhauled over the next four years to handle additional output. Up to 5,600 jobs are expected to be created.

Mexico has continued to experience a boom in automotive manufacturing, as many automakers and suppliers take advantage of lower payroll south of the border. GM joins several other automakers that have focused on Mexico as the primary location in which to expand North American manufacturing capacity.

The influx has continued to elevate the country’s status among global automotive producers, placing it in the seventh spot, according to Mexican officials.