The Navy Secretariat (Semar) and Mexican Air Force will be equipped with new planes and helicopters, President Enrique Peña Nieto announced in Tecámac, State of Mexico, Wednesday.
During the inauguration of Aerospace Fair 2015, held at Military Air Base One in Santa Lucía, he said he will make an unprecedented effort to ensure that the armed forces have the latest equipment so they can fulfill their responsibility to serve and protect Mexican citizens.
He claims this effort is part of reinvigorating the country, placing it at the vanguard and overcoming resistance to give the armed forces the tools they deserve. The new equipment will be used to support work, surveillance, reconnaissance, search and rescue operations, intelligence and transport, among others.
Energy Partners Latin America (EPLA) will build a 150MW solar plant in Mexico's northwestern peninsular state of Baja California with a US$279mn investment.
EPLA is an affiliate of Ketchum, Idaho-based Intermountain Energy Partners, founded in 2014 in Mexico to develop renewable energy and water management projects in Latin America.
The plant will allow local industries to become offtakers via long-term power purchase agreements, reducing their electricity tariffs in comparison with their current payments to state utility CFE, while cutting the state's carbon emissions by 270,000t/y, local media reported the president of Mexico's manufacturing chamber (Canacintra) René Romandía Tamayo as saying at a press conference in Tijuana.
General Motors has announced that it is planning to manufacture its next-generation Chevrolet Cruze at a factory in Mexico. The auto maker is going to invest $350 million in its factory in Coahuila, Mexico, to cover the costs of tooling and other changes required to manufacture the new version of the Cruze, which is expected to be revealed later this year. In 2014, GM, which currently imports the vehicle into Mexico from its plant in South Korea, sold 7,870 Cruzes in Mexico, down 15% from 2013, according to data from the Mexican Association of Automobile Distributors.
However, given the small size of the Mexican auto market, this move cannot be about expanding sales in Mexico by reducing the transaction price. So, what is this about? We take a look at the factors involved below.