Sweden based, global truck maker AB Volvo has announced that it will build a new heavy-duty truck manufacturing plant at Monterrey and expects construction to cost just north of $AUD1 billion ($USD700 million).
The company announced back in April that it intended to build a new factory in Mexico to supply Volvo and Mack trucks.
Volvo had announced in April that it aimed to build a plant in Mexico to provide additional capacity to support its growth plans of both Volvo and Mack Trucks in the U.S. and Canadian markets, and to support Mack truck sales in Mexico and Latin America.
The new Monterrey plant will apparently supplement U.S. truck production as well as providing additional capacity for the growth of both Volvo and Mack, while the company, which has targeted growth in North America as a strategic priority, expects the plant to be operational by 2026.
Volvo Group said that Monterrey presents logistical efficiency to support sales to the U.S., Mexico and Latin America, as well as having a well-developed infrastructure and proximity to the U.S. border, which makes it an ideal location, the company said.
The company added that the massive investment in Monterrey is part of an effort to increase the strength and flexibility of its industrial footprint and supply chain, including an agreement to acquire the Commercial Vehicle Group’s production plant in North Carolina, which produces cabs for Mack’s heavy- and medium-duty trucks. The $AUD 59 million ($US40 million) agreement was announced on the 1st of August and the factory is expected to close later this year. Volvo Group was asked about where the Mack cabs would be produced in the two years before Monterrey is due to open in 2026, but did not rely before time of publication
Heavy-duty manufacturing and particularly automotive related component makers are extensive represented in the Monterrey region of Mexico .
Automotive component maker, Bendix has a technical centre in Monterrey while other companies such as Grote has an engineering and production facility. In addition Maxon Lift’s second manufacturing plant is in Monterrey, while Haldex also has a plant there.
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