In line with Nissan Motor Co.'s aim to position Mexico as the supply hub for the Americas markets, the carmaker will be spending $600 million to upgrade its plants in Mexico and begin making three new low-cost cars.
Nissan, which is allied with France's Renault SA, aims to begin assembly of its Micra compact by early next year. There's also a plan to add a sedan and a multipurpose vehicle to the lineup by 2013.
A Nissan spokeswoman said that the Micra, which is offered in Japan, Thailand and India, is likely to have a price range at around $10,000. She added that Nissan aims to build 300,000 units of the three models every year in Mexico and estimates that 80% will be exported to other markets in the Americas.
Nissan will assemble the new models at its plant in Aguascalientes in northern Mexico, where the Tiida compact and three other models are being produced. It's also possible that the new models will be produced at its plant in Cuernavaca in the south.
The Aguascalientes plant has an annual capacity of about 350,000 units, while the Cuernavaca plant has can produce 250,000 units annually. [via autonews - sub. required]