According to Businessweek,President Felipe Calderon,pictured above shaking hands with employees as he toured the new,state of the art Chrysler auto plant in Saltillo,Mexico,has become a leader in Auto Production. Chrysler named the new addition to their manufacturing facilities,CENTENARIO in honor of Mexico's 1910-1917 revolution's anniversary.
The new $570 million dollar facility will rely on more than 700 employees to produce Chrysler's Pentastar V-6 Engine for the company's 2011Grand Cherokee Line. Future plans are in place for the Dodge,Avenger,and Journey models in the coming months. Estimated production capacity is 400,000 units per annum.
As reported by the Wall Street Journal,the Penstar V-6 will over time,replace the V-6 engines currently in all of their cars due to the economical advantages of the newly created V-6. Fuel economy will be optimized by 7% but yet offer a whopping 290 Horsepower.
Keeping with Mexico's commitment to a less impactful human footprint,the new plant will be outfitted with over 1900 solar cells that will greatly reduce carbon emissions as well as a wastewater treatment plant that will experience savings of over 114,000 cubic meters of water every year. Chrysler is the fifth largest producer of automobiles that have been completed in Mexico,with six production facilities,and is the reason that the Detroit-based auto group's vehicle production is up 124% from last year.
According to Investment Properties Mexico,American companies are still rushing to do business in Mexico,lured south of the border by low wages,fewer taxes,lower freight costs,and a booming economy.
Over 18,000 American companies are now investing and operating in Mexico with more obtaining new permits every day. In return for investing in Mexico and building factories,Americans get great tax breaks,low labor costs ($4.21 a day in some cases),and worker training paid for by the government.
Mexico was recently named "the most affordable place in the world to do business by International financial experts KPMG.
Whether for vacation,unparalleled real estate investment opportunities,or a healthier bottom line,more of the World is taking a closer look at our neighbor to the South.