GM Investing $5B To Modernize, Double Mexican Production
General Motors will invest $5 billion through 2018 into its Mexican facilities to help double production capacity.
Reuters reports $1.4 billion of the $5 billion has spent, according to GM Mexico president Ernesto Hernandez, with the rest coming over the remaining three years. The investment will add 5,600 jobs, and help modernize the subsidiary’s facilities in Coahuila, San Luis Potosi, Mexico State and Guanajuato.
The investment raises the total figure invested into the nation’s booming auto industry in the first two years of Pena Nieto’s presidency, now at $19 billion. Mexico is currently the seventh largest producer in the world, up from eighth place in 2013.
Seattle-based writer, blogger, and photographer for many a publication. Born in Louisville. Raised in Kansas. Where I lay my head is home.
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Mixed feelings here. This is not why U.S. taxpayers bailed out GM. On the other hand, a recent LA Times article described the near-slave conditions for Mexican farm workers (in Mexico). Bringing higher quality jobs to that country is a good thing. Adam Smith's invisible hand: greed drives employers to bring jobs to where they are needed the most.
Mexico graduates 300K engineers per year. Car companies would be foolish not to move to Mexico. US people are now stupid and parasitic brats thanks to public schools and television programming. Pretty much everyone under 30 in the USA is a parasitic bratty moron and a net liability to any productive enterprise...Basically human tapeworms.
I'll just insert the obligatory "Strawman" here - the way this is going, it'll eventually fit.
Well that's it! If it wasn't for other countries we wouldn't have food to eat, something to cook it on/in, clothes to wear, building materials, other necessities, and now they are hollowing out the auto industry. Well I guess it won't matter because without good manufacturing jobs no one can afford to buy a new car.