Stellantis, the European-American automaker, invested $1.6 billion in its production unit in the central city of Toluca, Mexico to produce a fully electric vehicle for the North American market, the local government reported.
"It is a new investment of more than $1.6 billion from the Stellantis company, 3,000 new jobs will be added in the automotive sector" on the entity, the government of the state of Mexico (Edomex) reported in a press release.
In her personal account on X, the head of the Ministry of Economic Development (Sedeco) of the State of Mexico, Laura González Hernández, wrote “today the production of the electric model of Stellantis in the Toluca plant, the ‘Jeep Wagoneer S’, was officially launched in the presence of the head of the Ministry of Economy of the federal government, Raquel Buenrostro”.
The investment is to install a platform (STLA Large) that allowed Stellantis México to manufacture its first electric vehicle. The Wagoneer S is an all-electric premium SUV.
Stellantis México is the third largest vehicle producer in the country. From January to July, it contributed 10.8 percent of the 2.30 million vehicles produced by the 13 producing companies. That contribution was only surpassed by Nissan's 16.7 percent and leader General Motors 21.9 percent.
In Edomex, the government said, there are eight companies that produce light and heavy vehicles, two engine manufacturing companies and 12,097 companies related to the automotive industry.