GM to invest $691M in 3 Mexican assembly plants

New factory will manufacture 8-speed transmissions.

MEXICO CITY — General Motors says it will invest $691 million in its assembly plants in the Mexican cities of Silao, San Luis Potosi and Toluca.

GM Mexico’s president Ernesto Hernandez said the investment will help build a new factory in Silao to manufacture 8-speed transmissions and expand the factories in San Luis Potosi and Toluca.

Hernandez added that the automotive sector is one the pillars of Mexico’s economy, representing more than 20% of manufacturing GDP.

GM has operated in Mexico for 78 years.