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BMW confirms Mexican assembly plant

Confirming earlier reports, BMW (BAMXY) will open a new $1B assembly plant in Mexico, which will produce 150k cars a year. The facility will employ an initial workforce of 1,500, and begin assembling vehicles in 2019.

Many automakers are shifting manufacturing facilities to Mexico, to take advantage of the country's growing industrial base and tariff-free access to the U.S. market.

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