Vehículos Automotores Mexicanos
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Vehiculos Automotores Mexicanos S.A. (VAM) was an automaker in Mexico. It was established in 1963 after the Mexican Government passed a law to control the government-owned SOMEX (Sociedad Mexicana de Credito Industrial), the parent company of Willys Mexicana S.A. (established since 1946 as a distributor for Willys-Overland Jeeps) that held the license to produce and import AMC Ramblers. Willys Mexicana was transformed into VAM in 1963 after an agreement between American Motors Corporation (AMC) and the Mexican Government. At the same time, AMC took a 40% equity interest in VAM, but did not actively participate in the company's management. Government content regulations required VAM vehicles had to have at least 50% locally sourced parts.
VAM continued to manufacture AMC products under license. Many of these carried different engines, interiors, and model names than their counterparts in the United States and Canada. Some models were unique, such as the VAM Lerma. All VAM engines were of AMC design, but built in Mexico. Moreover, VAM added unique engineering features to deal with low octane fuel and high altitudes. This included a 282 cubic inch (4.62 L) I6 engine that was not available from AMC. VAM also built Jeeps.
In 1982, VAM's engineering department worked on a prototype Jeep XJ and fitted VAM's straight six into it (in place of AMC's four-cylinder or optional V6 from General Motors). AMC was impressed by the project, which eventually developed into the 4.0-liter engine version introduced in the 1987 Jeep Cherokee (XJ).
Financial problems during a collapse of the Mexican economy (recession and devaluation of the Mexican peso) in 1982 forced the sale of the Mexican company to Renault.
The Mexican government paid Renault some US$200 million to take over VAM and assume its debts. Renault then closed VAM down.[1]
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