Germany's BMW broke ground on its new Mexican plant on Thursday, pledging to invest a total of $2.2 billion in the region through 2019.
BMW (BMWG.DE) follows a wave of carmakers that have sought to take advantage of the country's growing industrial base and tariff-free access to the U.S. market. Mexico's low wages also help reduce the German automaker's dependence on higher-cost plants at home.
The $1 billion plant is located in San Luis Potosi, a state in central Mexico that is close to the country's industrial heartland and the . . .
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