Chinese technology company Intretech has broken ground on a smart manufacturing plant in Apodaca, Nuevo León, with a planned investment of US $60 million.
The company serves the automotive, medical, energy and consumer products technology sectors. It manufactures rearview mirrors, headphones and devices for gaming and other Internet of Things (IoT) products.
The plant, Intretech’s first in Mexico, will feature 2,000 square meters of floor space and over 50,000 square meters of planned surface. It is expected to employ 1,500 people.
Nuevo León’s Economy Minister Iván Rivas Rodríguez said that in October 2023, officials from the local government, including Nuevo León Governor Samuel García, went to China as part of a strategic tour to attract foreign direct investment (FDI) to the state. While there, they toured Intertech’s facilities in Shanghai.
With plants in Hungary, Malaysia and China, Intretech’s move to Mexico is a strategic investment to strengthen its presence in the Americas.
“This location provides a geographically convenient hub that enhances service delivery and logistical efficiencies across the continent,” the company said in a statement. “The Mexico facility represents Intretech’s dedication to meeting the demands of its clients by leveraging localized production capabilities and fostering closer ties within the American markets.”
Worldwide, the Chinese firm employs 9,000 people, including 1,600 engineers.
Among Mexico’s 32 federal entities, Nuevo León is set to be the third biggest recipient of FDI announced by companies in the first six months of 2024, with an estimated US $4.12 billion, or 9% of the total announced investment in the country.
Nuevo León’s ability to attract FDI is due in part to the efforts of Governor García, who has made attracting nearshoring companies a major priority. According to a recent study by the Mexican Institute for Competitiveness (IMCO) and the Friedrich Naumann Foundation for Freedom (FNF), Nuevo León is among the best-prepared states in Mexico to accommodate nearshoring, in addition to Aguascalientes and Coahuila.
With reports from El Economista
Source: Mexico News Daily
