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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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