BMW Says No Decision on Location of Latin American Plant

10/15/96

Reuters has reported that German carmaker BMW said on Friday that no decision has yet been made on where to locate a new engine factory in Latin America. The new plant will be part of a joint venture between BMW and Chrysler Corporation. At the Paris car show last week, the two companies announced that they would invest up to $500 million to establish a joint Latin American small car engine production facility. The venture will produce up to 400,000 four-cylinder engines a year, beginning operations by the end of 1999.

BMW made the statement when questioned about a statement from the Mayor of Medellin, Colombia saying that BMW officials had expressed an interest in setting up an assembly plant near the city.

Paul Dever -- The Auto Channel