Volkswagen Announces $1 Billion Investment in Mexico for EV Business Expansion

The Volkswagen Group is making a split investment in its Mexican plant complex.

The Mexican division of the Volkswagen Group announced on the 17th (local time) that it will invest about $1 billion in a second split investment to activate its electric vehicle (EV) business at its existing business site in central Mexico.

The investment in Volkswagen’s Mexican business follows a plan announced at the end of 2022 with a budget of $763.5 million.

Volkswagen’s Puebla plant is one of Volkswagen’s largest facilities worldwide, and the previous investment plan for this facility was to build a new paint plant and operate a new production line.

Volkswagen produced the Puebla plant’s Jetta, Taos, and Tiguan models.

In addition, it has been producing a small SUV called the Audi Q5 since 2016 and later added a hybrid version.

However, Volkswagen did not provide detailed information on what kind of electric vehicle would be made at the extensive complex in Puebla, central Mexico.