VW to Honda Spur $3 Billion Boom for Made-in-Mexico Steel: Cars
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Mexico’s auto production has almost doubled since 2009. Now its steel industry is trying to catch up by spending almost $3 billion on new and improved factories.
“Auto exports are going to be the new oil for the Mexican economy,” Marco Oviedo, chief economist of Barclays Plc in Mexico, said in a telephone interview from Mexico City.