Mexico. The president and CEO of Volkswagen de Mexico, Holger Nestler, announced Volkswagen's entry into the era of electromobility, with a second investment package close to one billion dollars.
In a meeting with the governor of the State of Puebla, Sergio Salomón, the executive pointed out that this second capital package is in addition to the one announced in 2022 for 763.5 million dollars, within the framework of the start of the construction of a new paint warehouse for the plant installed in the municipality of Cuautlancingo.
"We are excited to take firm steps towards electrification in Puebla. This second investment package is also an example of the relevance of the State, where today we reaffirm the quality of manufacturing, while optimizing our business management based on environmental, social and corporate governance criteria, with a broad impact on communities, towards the sustainable future of the industry," said Nestler.
Regional potentialities
As part of this meeting with authorities, the president of the German firm also shared details of Volkswagen's regionalization strategy in North America. This strategy will allow the firm's subsidiaries in the United States, Canada and Mexico to strengthen synergies, make the most of their capabilities and boost productivity.
This, Nestler said, represents a great opportunity for Volkswagen de Mexico to consolidate itself as a strategic production center in this region of the continent, where one of the world's leading vehicle markets is located.
It is important to note that in 2024 the Volkswagen brand celebrates its first 70 years of presence in Mexico, so this announcement is made within the framework of this important anniversary.
For his part, the Secretary of Economy of Puebla, Ermilo Barrera, indicated that this decision not only boosts the competitiveness of this municipality in the national and regional market, but also highlights the importance of its skilled labor and infrastructure in an industry as competitive as the automotive industry, which currently contributes 43.4% of the state's Gross Domestic Product (GDP) and generates more than 65,000 jobs in the state.
Therefore, the attraction of technological investment associated with this project will contribute to continued economic growth.
"This second investment package announced by Volkswagen de Mexico is a strong sign of the confidence that the Group has in our State. Therefore, this decision reinforces our role as an attractive destination for investment and to promote the transition towards electric and sustainable mobility in the automotive industry," said Sergio Salomón, the governor of Puebla.
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