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Weekly Roundups

Mexican Government Commits to Support Electromobility Investment

By Sofía Garduño | Fri, 07/22/2022 - 09:00

This week, President Andrés Manuel López Obrador committed to support electromobility investments in Mexico. Consultancy firm Frost & Sullivan forecasted that sales of EVs and hybrid vehicles in Mexico will reach 200,000 units by 2030. General Motors announced its plans to assemble the Chevrolet Blazer EV in Coahuila, while Quanta Computer aims to invest US$130 million in its Nuevo Leon plant.

Meanwhile, more companies such as CATL are considering transferring their operations to Mexico.

 

Ready? This is The Week in Automotive!

 

GM to Assembly Chevrolet Blazer EV 2024 in Mexico

General Motors’ crossover electric vehicle, the Chevrolet Blazer EV model 2024 will be assembled in its plant in Ramos Arizpe, Coahuila.  “Blazer EV 2024 sets a new standard for electric SUVs, with intuitive packages and technologies that help position Chevrolet for leadership in one of the fastest-growing segments,” said Scott Bell, Vice President, Chevrolet. The vehicle will enter the market in late 2023. The full story here.

Sustainability, Policy to Improve Sector’s Outlook

An insufficient supply of vehicles slowed sales in 2021 but inventories are expected to recover in 2023, said AMDA’s Guillermo Rosales to MBN. “We closed 1H22 with a 0.4 percent decrease in sales as a result of lack of inventory compared to last year. Inventories improved in May and June but still remain scarce and are expected to remain so until the end of 2022. We expect to significantly close the gap between demand and supply in the second half of 2023,” said Rosales.

Mexico to Meet Hybrid, EV Goal by 2030: President

President Andrés Manuel López Obrador highlighted his administration’s commitment with alternative energies during a recent visit to the US. The president said that during his administration changes will be implemented to ensure security and certainty to businesses investing in the country. “President López Obrador has just announced that Mexico is committed to clean energy. We are working on that, there are already several automotive companies working on the manufacturing of the first electric vehicles in Mexico,” said Elodina Guerra, General Director of Heavy Industry and High Technology, Minister of Economy. Learn more about the topic here.

Quanta Computer to Invest US$130 million in Nuevo Leon Plant

Quanta Computer is planning to invest US$130 million to bring more production to its assembly plant in Nuevo Leon. The plant will focus on electronic manufacturing and will produce the most complex machine that the company will offer, which is a device that will control different functions of a vehicle. Read the full story on MBN.

CATL Could Produce EV Batteries in Mexico

China’s Contemporary Amperex Technology (CATL) is evaluating Mexico as the future location of a US$5 billion plant to manufacture EV batteries. The company is analyzing sites in Chihuahua and Coahuila to build the plant. CATL currently leads the global EV battery market and enjoys a 33.9 percent market share. In 2021, CATL was named the top company in EV battery consumption volume for five consecutive years. Read the full article here.

Mexican EV Market to Grow 25 Percent by 2030

Sales of EVs and hybrid vehicles will reach 200,000 units by 2030 in Mexico, according to Consultancy firm Frost & Sullivan. Mexico is forecasted to grow its EV sales by 25 percent per year. However, this growth could be affected by factors such as the government’s interaction with automotive companies and consumers and policies that incentivize the commercialization of those vehicles.  Read the full article here.

24th Edition of INA PAACE Automechanika 2022 Takes Place

Last week, the largest exhibitions of automotive repair and future trends took place at the Citibanamex Center. INA PAACE Automechanika Mexico City is the meeting point for industry professionals looking for new suppliers, information on the latest technology and analysis of product options. During the event, the signing of the Memorandum of Understanding between AMT and INA took place to reinforce their commitment to the auto parts industry. Learn about the highlights of the event here.

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Sofía Garduño Sofía Garduño Journalist & Industry Analyst