Auto parts supplier Gonzalez Automation has announced that it will sell its own auto parts brand, with an aim to compete with its larger rivals.
The deal with the auto parts giant comes after the automaker signed a strategic partnership with Ford to help them sell their vehicles in the US.
The two brands have been working together on the automotive space for a few years now, as Ford acquired the company’s auto parts business last year.
The company is currently looking to expand its manufacturing and distribution footprint in the region and is planning to invest in new plant sites in Mexico and the US, where it hopes to bring back some jobs.
Gonzalez Automation is currently expanding its distribution footprint into Mexico, with the aim of opening a factory in the Mexican state of Chiapas.
It has also announced a new US plant in New Jersey, in a deal worth more than $700 million.
In a press release, Gonzalez Automations said that the new brand will focus on automotive engineering, automotive manufacturing and parts production, as well as marketing.
It is currently the world’s fourth largest auto parts supplier after General Motors, Honda and Nissan.
The deal will see the two companies working together to create a more comprehensive portfolio of products, as they both operate in a market that has seen a lot of disruption over the last few years.
The company will have a presence in the United States, Canada and the European Union, with expansion plans in the future.
The announcement comes on the heels of the announcement of a $100 million investment in the new Mexico plant in September.