Xinquan Invests $100 Million in Aguascalientes

The Chinese company has announced an investment of $100 million and the creation of 700 new jobs for the expansion of its operations in Aguascalientes, including the establishment of a second production plant. Construction is set to begin in 2024 at the San Francisco IV Industrial Park.

Tang Zhihua, global director of Xinquan, mentioned that this new investment project is a clear demonstration of the company's confidence in Aguascalientes. "Investing here was the best decision, and we want to put down roots in this land, where we hope to make positive contributions to the local economy, social development, and job creation."

Expansion project

He emphasized that, within two years of its establishment in the region, Xinquan has experienced significant growth, prompting the development of an expansion project earlier this year.

The company specializes in manufacturing auto parts for luxury vehicles, currently employing over 1,000 people in Aguascalientes. With the new plant, this number is expected to increase to over 1,700. Currently, the company has 31 subsidiaries worldwide, employing 11,000 people and generating $400 million in annual sales.

Over 4,000 jobs

Aguascalientes Governor Tere Jiménez stated, "Xinquan will continue to grow under the clear sky of Aguascalientes; the Red Dragon of Mexico is the guarantee of success and good luck for Xinquan and Chinese investments." Currently, there are 12 Chinese-owned companies operating in the region, collectively providing over 4,000 jobs in the automotive parts, textile, services, and clean energy sectors. Additionally, China is one of the top three destinations for Aguascalientes' international sales.

Economic growth

Finally, Manuel Alejandro González Martínez, Secretary of Economic Development, Science, and Technology, noted that due to its competitive advantages and the talent of its people, Aguascalientes is experiencing economic growth, closing the year with a historic figure of nearly 20,000 jobs and a growth rate exceeding 4%. It is also the fifth state in the country in terms of exports and the seventh with the highest foreign investment attraction index.

During the press conference announcing the expansion, Robert Liu, President of Xinquan Americas, and José Briones, Director of Operations for Xinquan in Mexico, were also present.