Martinrea announces investment of 155 million dollars and the creation of 668 jobs in Querétaro

Martinrea  announced the expansion of its operations in Querétaro , in which they will invest 155 million dollars. The expansion contemplates 668 new jobs for the entity.

The investment will focus on the production of aluminum automotive components, mainly engine blocks, transmission cases and suspension bridges, which will be manufactured for companies such as Ford, Honda, BMW, General Motors  and Lucid , the electric vehicle start-up.

Juan Pedro Santos , vice president of operations at Martinrea aluminum division, explained that the resources will be applied over a three-year period (2021 to 2023) and highlighted that 25% of the production generated in the state is already used in electric vehicles. . 

Likewise, and from this investment, they plan to produce two million units in this plant during 2022.

In total, once the new hires are completed, Martinrea will employ 1,621 associates in Querétaro .

SECTOR

Marco del Prete Tercero , head of the Secretariat for Sustainable Development , under the investment announcement, highlighted the strength of the automotive industry in the entity. 

He reported, for example, that from January to November of last year, the manufacture of transportation equipment amounted to 88,266 million pesos in Querétaro , 24% of the total manufacturing. While, until January 2022, companies in the automotive sector registered 48,998 jobs affiliated with the Mexican Social Security Institute . 

Data from the Ministry of Economy show that, from January to September 2021, foreign direct investment in Querétaro , in the manufacture of parts for motor vehicles, totaled 234.2 million dollars, an increase of 140% in relation to the same period of 2020.