Investors have watched with great interest as Ford (NYSE: F ) , General Motors (NYSE: GM ) , Volkswagen (NASDAQOTH: VLKAY ) and other big names have poured billions into new factories in China. But there's another auto boom happening a lot closer to home: All three of those giants, and several others, are pouring funds into new factories in Mexico as well.
Nearly 3 million new vehicles were built in Mexico last year, a number that could rise substantially in years to come. What's driving this auto boom? As Fool.com contributor John Rosevear explains in this video, Mexico's skilled, low-cost workforce -- and the North American Free Trade Agreement -- make the nation a great base for automakers looking to expand in the huge U.S. market.
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