German carmaker Audi will invest one billion euros ($1.08 billion) in electric vehicle projects in the Mexican state of Puebla, the state’s governor said on Tuesday.
The investment will lead to the creation of 500 new jobs, the Puebla government said in a statement.
Audi Mexico’s executive president Tarek Mashhour and Puebla Governor Sergio Salomon aim to turn the state into a hub for electric vehicles, according to the statement.
Audi Mexico has already begun installing the infrastructure and equipment necessary for the production of a car with “e-tron” – or fully electric – equipment, the statement said.
Audi, which belongs to the Volkswagen group, has one plant in Mexico in the Puebla town of San Jose Chiapa, where it currently has 5,000 employees, according to company data.
“Investors’ confidence in Mexico is strengthened, as there is certainty that our country is growing economically,” governor Salomon said via his X account on Tuesday.
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