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Mexico’s Part in the Commercialization of Electric Vehicles Would Double With the Arrival of Chinese Brands says AIG

Mexico’s Part in the Commercialization of Electric Vehicles Would Double With the Arrival of Chinese Brands says AIG

Mexico’s Electric Vehicle production is expected to grow 179% by the end of this year , according to American Industries Group.

The commercialization of these units could double with the arrival of new Asian brands, mainly of Chinese origin , Gerardo González, regional director of Guanajuato for American Industries Group (AIG), a Mexican company created in 1976, reported in a statement.

The industrial real estate sector plays a fundamental role in achieving the consolidation of the automotive sector in Mexico, particularly the Bajío region and the Northwest of Mexico are disputed as the favorite destination for foreign companies to invest and establish operations, an effect driven by the phenomenon of nearshoring and the global automotive trend towards electromobility, González highlighted.

To date, the northeast zone concentrates 41% of the supply of components for electric vehicles in the country, while the Bajío region (composed of Guanajuato, Querétaro, San Luis Potosí and Aguascalientes) gathers another 40%, Guanajuato being the leading entity in the electromobility industry.

Last year, Mexico exported electric vehicles to the United States market for 2 thousand 636 million dollars , which placed the country among the first four nations with the highest billing for this concept of sale to the North American country, according to the Mexican Association of the Automotive Industry (AMIA).

Among the main exporters of electric cars in the US market, Japan is in first position with 6 thousand 381 million dollars, followed by South Korea with 5 thousand 874 million.

“Mexico has various advantages to make the most of the nearshoring boom in the coming years, starting with its proximity to the United States and a wide border; a network of trade agreements, better known as the T-MEC; a skilled and relatively cheap workforce; productive integration in North America, and natural resources”, he highlighted.

Regarding the recent investment announcements, he recalled that last March Tesla confirmed that it will install an assembly plant in Santa Catarina, Nuevo León , where it will manufacture a new generation electric vehicle; The Government announced that 5 billion dollars will be allocated.

In the same month, Jetour, a Chinese company, announced its intention to invest 3 billion dollars in 2023 to install an assembly plant for combustion and electric vehicles, which would be in the Bajío region.

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