MONTERREY, NL – SKF will invest US$68 million in the construction of a new plant in Monterrey, Nuevo Leon, where it will produce components for electric and commercial vehicles, with the aim of reducing its dependence on imports.
The Swedish bearing manufacturer reported in a statement that the new factory will support strategic development in the Americas; it will also meet customer needs as the focus on electrification increases.
SKF, which already has facilities in Nuevo Leon, will manufacture products for the fast-growing, strategically important electric vehicle and commercial vehicle powertrain markets in North America at the new plant, as well as a range of products for industrial applications.
The company estimated that the first production lines in Monterrey will open in mid-2023, and reported that SKF specialists from the Americas, India, China, and Europe are involved in increasing the technology and competence of the factory.
David Johansson, president of SKF’s Automotive division, commented that this investment is an important step in strengthening capability within the electric and commercial vehicle segments in North America.
The executive indicated that, with this new facility, they are securing a regional supply chain that complements their existing capabilities in Europe and Asia.
Johansson highlighted Monterrey’s location since it is close to many of its customers and partners in Mexico; it also has developed logistics channels for the main distribution centers in the United States.
The new plant is expected to generate around 1,200 jobs for the local community once fully operational.
Source: El Financiero