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Kia to open $1-billion auto factory in Mexico
Kia to open $1-billion auto factory in Mexico

South Korean automaker Kia Motors Corp. will open a $1-billion auto plant in northern Mexico, President Enrique Peña Nieto announced Wednesday. Kia will join other automakers rushing to build cars in Mexico, where low labor costs and extensive free trade agreements have turned the nation into a manufacturing powerhouse despite its high crime rate. BMW revealed plans for a $1-billion plant in San Luis Potosi in July, a month after Mercedes-Benz and Nissan announced plans for a joint, $1.4-billion plant in Aguascalientes. Last year, Audi broke ground on a $1.3-billion factory near Puebla. Honda, Mazda, Volkswagen, General Motors and Ford already assemble vehicles in Mexico. ...

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