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The purpose, the businessman explained, is building a factory in Mexico to produce at least 50 thousand automobiles per year, which will require a minimum investment of US$150 million. These automobiles will be later sold in Mexico.

Due to the fact that achieving said sales volume per year will be difficult at the beginning, Grupo Tata will export them to Venezuela, Brazil, Chile and Argentina, where they already have a presence, declared in an interview Hernandez Venegas and Francisco Bada, Grupo Autofin’s Commercial Operations Coordinator.

For the construction of the new plant Autofin is considering Hidalgo and Queretaro. The factory could start operations in the summer or autumn of 2009 to offer models 2010.