Quanta Computer Invests $1 Billion in Mexico, Boosting Jobs and Driving EV Industry Expansion

Taiwanese electronics manufacturer Quanta Computer has announced a $1 billion investment in Nuevo Leon, a northern state in Mexico. The move, which is expected to create 2,500 jobs, reflects the growing trend of “nearshoring” and highlights the state’s economic potential. Quanta Computer’s vice president of manufacturing operations in Mexico, Pedro Campa, confirmed the company’s previous investment of nearly $500 million and the creation of 2,500 jobs in Nuevo Leon. However, he did not specify where the new funds would be allocated.

This investment will expand Quanta’s existing operations in the state. Quanta Computer is a supplier to Tesla, the electric vehicle manufacturer that recently announced a $5 billion factory in Monterrey, Mexico. In a separate development, Nuevo Leon Governor Samuel Garcia met with executives from Foxconn, a major Apple supplier, hinting at a future announcement related to electric vehicle development. Foxconn aims to diversify its revenue base and expand its presence in the EV industry. The company already has factories in Mexico, primarily producing televisions and servers, and has expressed interest in the country as a potential EV production site.

The investments by Quanta Computer and the potential involvement of Foxconn underscore the significance of technology and the SMT industry in shaping Mexico’s economic landscape.

[Source: Reuters]