Daimler AG and the Renault-Nissan Alliance are pointing their compass south of the U.S., or more precisely their putting COMPAS in Mexico to build compact cars for them.
The companies announced that they’ve formed COMPAS (Cooperation Manufacturing Plant Aguascalientes), a 50-50 partnership that will “oversee the construction and operation of a manufacturing plant for the production of next-generation premium compact vehicles for the brands Mercedes-Benz and Infiniti.”
The two automakers announced last fall they would team up to find a way to build small cars in Mexico, but did not provide any substantive details at the time. The new entity will build a $1 billion plant – each kicking in half of the funds – on the grounds of Nissan’s plant in Aguascalientes. The new plant will be built alongside Nissan’s existing plant in the central Mexican city of Aguascalientes. (more…)