Audi to invest $1 bn in EV projects in Mexico

Audi to invest $1 bn in EV projects in Mexico

Automotive News Europe — 2024-06-12

Automotive Industry

Audi Mexico has already begun installing the equipment necessary for the production of a car with 'E-tron' — or fully electric — equipment.

Audi will invest €1 bn ($1.08 bn) in electric vehicle projects in the Mexican state of Puebla, the state's governor said on Tuesday, 11 June 2024. Audi confirmed the plans.

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 México is a company that moves towards the future of the automotive industry," the automaker said in a brief statement on 12 June 2024. "Therefore, it has a space in the Audi Group's electrification strategy. The Audi plant in the state of Puebla is ready to start its electromobility project and continue contributing its full potential to e-tron technology."

Audi, a unit of 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," Salomon said via his X account.

His comments came hours after Mexican President-elect Claudia Sheinbaum tried to calm investor concerns over a proposed judicial overhaul, promising the country would maintain its rule of law while saying she planned to push ahead with reforms.

Audi CEO Gernot Doellner said in March that the automaker was sticking to its EV strategy despite facing challenges in 2024.