Volkswagen’s Mexican division stated on Friday that it has invested approximately $1 billion, marking the German automaker’s second major expenditure to grow its electric vehicle (EV) business at its current operations in central Mexico.
The corporation released a statement, but it provided no other information about the type of electric vehicle production it plans to do at its expansive complex in the state of Puebla.
Following the announcement of a $763.5 million plan in late 2022, Volkswagen has made its latest investment in its businesses in Mexico.
Earlier plans for Volkswagen’s Puebla facilities, which rank among the company’s largest worldwide, included plans to establish a new production line and develop a new paint plant.
At its Puebla plant, the company has produced its Jetta, Taos, and Tiguan vehicles.
The Audi Q5, a small SUV manufactured by the Volkswagen subsidiary Audi, has been produced at the same site since 2016. A hybrid variant was later added.