Despite U.S. President Donald Trump’s economic policies, 21 delegates from major automotive firms based in Michigan, are visiting the state Querétaro to engage with government and industry leaders to strengthen their presence in México (specifically in Querétaro), in order to unlock the economic potential, promote the automotive sector and boost the supply chain worldwide.
The delegation is led by Brian Calley, Michigan’s Lieutenant-Governor, who underlined the necessity of making more business alliances of this kind. Currently, entrepreneurs throughout this region already began negotiations with other companies for different sectors such as logistics, software technology, and automobile design programmes.
During the Automotive Meeting Forum 2017, Brian Calley said that Mexico and Michigan have strengthened their relationship through commercial alliances aimed to the development of a stronger car industry in both ends.
(Photo: Thomas Peter /Google)
NHK Company which is subsidiary of Michigan’s San Louis Corporation, established a supplier plant in Querétaro with an investment of 53.3 million USD. And Tremec, with a 60 million USD investment in Querétaro, is another example of the strong relationship between Mexico and Michigan.
In fact, Mexico fulfills with the most exigent requirements and standards within the global automotive industry, as well as high-quality and competitive costs, so today 19% of North American auto production is made here.
Calley stated: “Michigan is still the automotive leader worldwide, because there’s no better place to invest in the car industry within the U.S., and 63 out of every 100 American top suppliers are settled there”.
It should be noted that the Foreign Direct Investment (FDI) in the automotive sector in Querétaro tripled in 12 months, registering a record $293.5 million USD last year.
The State Secretary of Sustainable Development (Sedesu), Marco Antonio Del Prete Tercero, pointed out that the investment in this particular industry had a significant increase, since it went from $89.9 million USD in 2015, to $293.5 million USD in 2016.
Source: http://eleconomista.com.mx/
