Audi to invest 1 billion euros in electric vehicles projects in Mexico

MEXICO CITY (Reuters) -German carmaker Audi will invest one billion euros ($1.08 billion) in electric vehicle projects in the Mexican state of Puebla, the state’s governor said on Tuesday.

The investment will lead to the creation of 500 new jobs, the Puebla government said in a statement.

Audi, which belongs to the Volkswagen group, has one plant in Mexico in the Puebla town of San Jose Chiapa, where it has 5,000 employees, according to company data.

($1 = 0.9240 euros)

(Reporting by Raúl Cortés Fernández and Stéphanie Hamel; editing by Drazen Jorgic and Brendan O’Boyle)