BMW to invest $1 billion in Mexico factory

German automaker BMW announced it will invest $1 billion in a new factory in Mexico, in the North-Central state of San Luis Potosí.

The factory will have a production capacity of 150,000 cars and is expected to generate 1,500 jobs.

Mexico's several free trade agreements were among the main reasons BMW chose the country, as they allow the firm to export cars to the Americas, Asia and Europe.

Full story (in Spanish)