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BMW and Hyundai in Talks for Mexico Plants, Guajardo Says

Mexico’s record auto production may get another boost from Bayerische Motoren Werke AG and Hyundai Motor Co., which are considering building factories in Latin America’s second-largest economy, Economy Minister Ildefonso Guajardo said.

The government has held talks with both companies and at least one of them may announce plans for a new plant next year, Guajardo said in an interview in New York yesterday. That would mark Mexico’s first new car factory since April 2012, when Audi AG revealed plans for a $1.3 billion plant it started building this year to produce its Q5 sports-utility vehicle.