The 5 Largest Automotive Industry Investments in Nuevo Leon in 2022

In Pesquería, Ternium announced a new investment program to better serve its automotive industry customers. The program includes expanding production capabilities for advanced high-strength and ultra-high-strength steels, with investments in new cold rolling mills, hot-dip galvanizing lines, push-pull pickling lines, and additional finishing lines. The total capital investment for this expansion is approximately $1 billion, and operations are set to commence in the first half of 2024. 

Kia Motors also announced a $408 million investment between 2022 and 2024 to support the growth of its operations in Pesquería. In Apodaca, Klöckner & Co (KMC) acquired National Material of Mexico (NMM), a prominent independent service center and materials supplier serving the automotive markets in North America. The acquisition was made for a cash consideration of $340 million, free from debt. 

Additionally, Forvia, a Tier 1 supplier, established two new plants in Nuevo León focused on manufacturing automotive seats and interiors. This $147 million investment is expected to create 1,500 direct jobs and 300 indirect jobs. Also, Cuprum, a supplier of aluminum to Tier 1 automotive companies, plans to invest $100 million in the construction of three new aluminum extrusion plants in Nuevo León. Cuprum has a presence in over 40 countries and employs over 6,000 people. Finally, there are rumors of Tesla, led by Elon Musk, finalizing details with the government of Samuel García to establish a plant in Santa Catarina, Nuevo León. More information regarding this investment is expected to be confirmed in early 2023.

Read the full article (in Spanish).