VW investing $1 billion in Mexico, report says

Volkswagen Jettas
Volkswagen Jettas

Volkswagen next week will announce an investment worth around $1 billion in Mexico to expand its Puebla plant, said Reuters today, citing a person familiar with the matter.

The investment, aimed at production of the carmaker's Tiguan compact sport utility vehicle, is due to be unveiled on Monday and is expected to generate about 1,900 jobs, the person said.

Volkswagen spokeswoman Consuelo Minutti declined to comment.

VW is currently expanding its Chattanooga assembly plant in a $900 million investment to build a midsize sport utility vehicle. The company plans to hire 2,000 more workers in Chattanooga.

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