Audi plans to invest $1 billion in electric vehicle projects in Mexico

The governor of Puebla announced on Tuesday that Audi, a German car manufacturer, plans to invest one billion euros ($1.08 billion) in electric vehicle initiatives in the Mexican state of Puebla.

According to a statement from the Puebla government, the investment will result in the establishment of 500 new jobs.

A goal stated by Audi Mexico's executive president Tarek Mashhour and Puebla Governor Sergio Salomon is to transform the state into a center for electric vehicles.

Audi Mexico has started setting up the infrastructure and equipment needed to produce a car with "e-tron" technology, which is fully electric, as stated.

According to company information, Audi, a part of Volkswagen (VOWG_p.DE), has established a new tab group and runs a factory in San Jose Chiapa, Puebla, Mexico, with a workforce of 5,000 people.

Governor Salomon reassured investors about the economic growth in Mexico via his X account on Tuesday, boosting their confidence in the country.

His remarks came several hours after Mexican President-elect Claudia Sheinbaum attempted to alleviate investor worries regarding a proposed judicial reform, assuring that the nation would uphold its legal system while also affirming her intention to proceed with the changes.

Audi CEO Gernot Doellner reaffirmed in March that the company will continue with its electric vehicle plan despite encountering obstacles this year.

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