MEXICO CITY (Dow Jones)--U.S. automobile giant General Motors Co. said Tuesday it plans to invest close to $500 million in its Ramos Arizpe plant in northern Mexico to produce a new line of engines as well as a new vehicle.
Of that amount, the company is investing $284 million to manufacture eight-cylinder engines with spark-ignition direct-injection technology, known as SIDI, Grace Lieblein, chief executive of GM de Mexico, said at an event.
"We estimate that these technologies allow for a 9% improvement in fuel efficiency from current engines," Lieblein said, adding that the investment will directly create 390 jobs in Coahuila state, where Ramos Arizpe is located.
Another $215 million will go toward upgrading the factory's production lines to build a new vehicle for the domestic and international markets, she said, noting that the investment will be key to maintaining 400 jobs.
more http://online.wsj.com/article/BT-CO-20100803-721411.html
Of that amount, the company is investing $284 million to manufacture eight-cylinder engines with spark-ignition direct-injection technology, known as SIDI, Grace Lieblein, chief executive of GM de Mexico, said at an event.
"We estimate that these technologies allow for a 9% improvement in fuel efficiency from current engines," Lieblein said, adding that the investment will directly create 390 jobs in Coahuila state, where Ramos Arizpe is located.
Another $215 million will go toward upgrading the factory's production lines to build a new vehicle for the domestic and international markets, she said, noting that the investment will be key to maintaining 400 jobs.
more http://online.wsj.com/article/BT-CO-20100803-721411.html