GM, Foxconn to swap imports to Mexico for local production, official says

by Reuters Oct 17, 2024

U.S. automaker General Motors and Taiwanese tech giant Foxconn will announce plans to swap out imports to Mexico for production in the country later this month, the nation's deputy economy minister said on Wednesday.

The government is also in talks with other major firms such as DHL and Stellantis to see which products could be produced in Mexico, Vidal Llerenas, who heads industry and trade for the ministry, said.

Vidal Llerenas, who heads industry and trade for Mexico's economy ministry, speaks during an industry event alongside other automotive executives (not pictured) in Mexico City, Mexico October 16, 2024. REUTERS/Henry Romero

Meanwhile, Intel has already committed to substitute 12% of imports of some parts such as heat sinks and thermal trays, Llerenas said.

Appliance maker MABE is looking to turn over half of its imports into locally produced products, he added.

Reuters

{afn_job_title}

Similar Stories

https://www.ajot.com/images/uploads/article/fake_guitars_5.jpg_copy_.jpg

CBP, partners seize more than $18 million in fake Gibson guitars in largest counterfeit musical instrument seizure on record

View Article

DHL Express report provides guidance for small and medium-sized enterprises (SMEs) on expanding to global markets

• SMEs can grow business and increase competitiveness by trading their products and services internationally • Access to finance, technology adoption and favorable trade policies can significantly boost SME's participation…

View Article

https://www.ajot.com/images/uploads/article/KC-Gottwald_ESP.7_Transped_.jpg

Italian steel handling specialist Transped boosts efficiency with upgrade to Konecranes Gottwald ESP.7 Mobile Harbor Crane

View Article

October 2024 crude steel production

Africa produced 2.0 Mt in October 2024, down 0.4% on October 2023. Asia and Oceania produced 110.3 Mt, up 0.9%. The EU (27) produced 11.3 Mt, up 5.7%. Europe, Other…

View Article