Mexico: An Attractive Investment DestinationBy Jorge Ramos Zwanziger | Thu, 12/24/2020 - 16:11
In an interview with MexiColven´s CEO, Edgardo Paduan explains that product diversification has been key in the automotive sector. In other news, Volkswagen released a statement that highlights the company´s many accomplishments this year despite the pandemic. We also present Tesla, a company that has seen great success worldwide because of its relevant electric technology.
Then we present news from the Bajio, a region that has become optimal for investments. Also, Mexico has proven itself as a strong international contender for international investors despite the pandemic.
Buckle your seatbelt, this is the Week in Automotive!
Volkswagen Mexico released a statement that calls digital transformation positive in a COVID-19 world and celebrates the accomplishments it has made in terms of its digital presence in a market that constantly demands increasing digitalization.
Tesla has been called the world’s most valuable car company. The company’s stocks are soaring, its market capitalization has surged above US$600 billion. Tesla is now more valuable than Toyota Motor Corp., Volkswagen AG, General Motors Co. and Ford Motor Co. combined.
Experts predict that investments into Mexico’s automotive industry will continue in 2021, with Mexico surpassing South Korea as the sixth-largest vehicle producer in the world. The opportunity the country has is to strengthen the lower levels of its supply chain.
Mexico is still competitive internationally, despite incremental increases in production costs that have arisen due to the virus, especially for carmakers in the Bajio region.
MexiColven: We chose Mexico due to its potential after our venture with our first dealership in 1992, which focused on heavy vehicles for passengers and paved the way to open our first subsidiary in 2003. Soon, we started to focus on heavy vehicles for cargo transportation. Today, 95 percent of our portfolio is focused on heavy vehicles for cargo. Having a diversified product portfolio has allowed us to brave the pandemic successfully. Our goal is to homologate our service across our third-party providers while providing faster support for our customers anywhere in the country.
Global cargo logjam deepens, delaying goods bound for retailers, automakers: A surge in demand for furniture, exercise equipment and other goods for shoppers sheltering at home in a worsening COVID-19 pandemic has upended normal trade flows. That has stranded empty cargo containers in the wrong places, spawning bottlenecks that now stretch from factories to seaports.