Renault-Nissan, Daimler unveil joint venture in Mexico

Carmakers Renault-Nissan and Daimler announced Friday that they will join forces to build compact cars in Mexico. 
The Franco-Japanese and German groups said in a joint statement that they would invest 1.0 billion euros ($1.36 billion) in the construction of a brand new plant in Aguascalientes, north-central Mexico. 
"The new plant will be built in the immediate vicinity of an already existing Nissan plant and will have an annual capacity of 300,000 vehicles when fully ramped up," the statement said.
Start of production was planned for 2017 with Renault-Nissan's Infiniti models and the production of Mercedes-Benz brand vehicles would follow in 2018.
"The companies will add almost 5,700 jobs by the time the plant reaches full capacity, expected in 2021," the statement said.
The two groups have collaborated since April 2010.