US automaker Ford opens $260 million campus in Mexico | Daily News Byte

MEXICO CITY, Oct 31 (Reuters) – US automaker Ford Motor Co (FN) opened its new global technology and business center outside Mexico’s capital on Monday after a $260 million investment.

The new campus will host business operations, global innovation activities and the largest engineering center in Mexico, according to a video shared by the company’s Twitter account.

The campus, located in the municipality of Naucalpan, is set to host 9,000 employees who work in a hybrid way, dividing time between home and the campus, Ford Motor said in a statement.

Several foreign auto companies have expanded operations and announced new investments in Mexico this year.

In October, foreign automakers Volkswagen ( VOWG_p.DE ) and Continental pledged major investments totaling nearly $1 billion, while earlier this year, Nissan ( 7201.T ) announced an investment of $700 million over the next three years.

The outflow of money from the automotive industry could continue in Mexico, after Jeep maker Stellantis ( STLA.MI ) reported it was looking to invest billions to make electric vehicles. in the country and Tesla (TSLA.O) Chief Executive Officer Elon Musk is considering. investing in the north of the country, according to sources consulted by Reuters.

Reporting by Carolina Pulice and Valentine Hilaire; Editing by Rashmi Aich

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