German carmaker Volkswagen (VOWG_p.DE) will invest about $1 billion to expand its vehicle assembly plant in Mexico's Puebla state and prepare it for production of the new Tiguan compact crossover SUV, the company said on Monday.
The investment is focused on new high-technology assembly lines and will generate some 2,000 jobs, Andreas Hinrichs, chief executive of Volkswagen Mexico, said as he unveiled the expansion plan.
Production of the Tiguan will begin in late 2016 with the vehicles hitting the market the following year, Hinrichs said. Volkswagen will produce around a million of the vehicles at the . . .
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