GM to invest $691M in 3 assembly plants in Mexico

MEXICO CITY (AP) -- General Motors says it will invest $691 million in its assembly plants in the Mexican cities of Silao, San Luis Potosi and Toluca.

GM Mexico's president Ernesto Hernandez said Wednesday the investment will help build a new factory in Silao to manufacture 8-speed transmissions and expand the factories in San Luis Potosi and Toluca.

Hernandez added that the automotive sector is one the pillars of Mexico's economy, representing more than 20 percent of manufacturing GDP.

GM has operated in Mexico for 78 years.