Automaker Ford will build a new assembly plant in Mexico in order to increase auto output in the Latin American country, according to media reports this week.
Media reports said the automaker will build a new assembly complex in San Luis Potosi at the same time it expands and existing facility near Mexico City.
Ford is expected to add some 500,000 autos per year to its current output in Mexico by 2018, which is more than double it produced in 2015.
Ford should start building the new plant this year. The project could cost the automaker more than $1 billion, according to media reports citing industry sources.