Introduction to LG Innotek’s Expansion in Querétaro
LG Innotek, a prominent electronics manufacturer based in South Korea, has announced plans to establish a new production center in Querétaro, Mexico. The company will invest approximately 3,500 million pesos (around $175 million USD) in this project.
Products to be Manufactured
The new facility will focus on producing various components, including cameras, LEDs, motors, and automotive parts. This expansion will allow LG Innotek to strengthen its position in the global market and cater to growing demand for advanced automotive technology.
Location and Initial Employment
The new production center will be situated in the Parque Industrial Kaizen, located in Colón, a municipality in central Querétaro. In its initial phase, the plant is expected to employ around 630 workers.
Government Support and Future Growth
Following meetings with local authorities, LG Innotek’s investment plans were confirmed by Mauricio Kuri González, the governor of Querétaro. In a video message, Kuri expressed his enthusiasm for the company’s commitment to the region and its plans for future growth.
“They plan to invest nearly 3,500 million pesos, and the first phase will employ over 600 people. In a short time, they aim to double their workforce. Here in Querétaro, we know that the best social program is employment. We are proud to attract globally recognized companies, and our talented workforce will continue to support their success.”
Existing Operations in Querétaro
This new investment complements LG Innotek’s existing operations in Querétaro, where the company already operates a plant in San Juan del Río, employing 600 workers. LG Innotek specializes in manufacturing electronic components and materials for diverse industries, including automotive, mobile devices, consumer electronics, and the Internet of Things (IoT).
Querétaro’s Attractiveness for Investment
The LG Innotek investment is part of a broader trend of companies choosing Querétaro for expansion. The state currently has nearly 50 investment intentions, according to the Secretaría de Desarrollo Sustentable (Secretariat for Sustainable Development).
Key Questions and Answers
- Who is LG Innotek? LG Innotek is a South Korean electronics manufacturing company specializing in components for various industries, including automotive, mobile devices, consumer electronics, and IoT.
- What products will the new center produce? The new production center in Querétaro will manufacture cameras, LEDs, motors, and automotive parts.
- Where is the new center located? The new facility will be situated in the Parque Industrial Kaizen, in Colón, a municipality in central Querétaro.
- How many jobs will the new center create initially? In its first phase, the plant is expected to employ around 630 workers.
- What is the total investment amount? LG Innotek will invest approximately 3,500 million pesos (around $175 million USD) in the new production center.
- What other industries does LG Innotek serve? Besides automotive, LG Innotek manufactures components for mobile devices, consumer electronics, and IoT.
- How many investment intentions does Querétaro currently have? Querétaro has nearly 50 investment intentions, as reported by the Secretaría de Desarrollo Sustentable.
