MG Motor to Build New EV Plant: The Week in Automotive

MG Motor will establish an EV plant and R&D center in Mexico, further boosting the country's expanding automotive sector, which is projected to attract US$1.9 billion in investments due to nearshoring. However, significant infrastructure investments are needed to sustain this growth, including US$1.7 billion annually for EV charging stations.

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MG Motor to Build EV Plant, R&D Center in Mexico

MG Motor has announced plans to establish an electric vehicle (EV) manufacturing plant and a research and development (R&D) center in Mexico, marking a significant milestone as the company celebrates the sale of its 150,000th unit in the country.

Mexico Requires US$1.7 Billion Annual EV Charging Investment

Mexico must invest approximately US$1.73 billion annually over the next six years, reaching a total of US$10.41 billion by 2030, to develop the necessary charging infrastructure, according to a report by Roland Berger.

Measuring Consumer Satisfaction Drives Informed Decision-Making

D Power has evolved to become a pivotal player in the automotive sector by leveraging over 50 years of expertise in customer feedback analysis. Recent advances have centered around becoming more agile through technology, particularly in data analytics and AI. Our goal remains unchanged: translating consumer insights into actionable strategies that benefit both buyers and manufacturers. We conduct multiple specialized studies aimed at comprehensively understanding consumer needs and preferences. This strategic approach not only supports consumers in making informed decisions but also enables manufacturers to refine their business strategies effectively.

Shaping the Future of Sustainable Mobility

Michelin is responding to the exponential growth of the EV market by adapting its products and technologies. For EV manufacturers, range is a key priority. Consumers want to ensure they can travel without worrying about running out of battery. Tires play a crucial role in achieving this, as they significantly influence rolling resistance, which directly affects battery charge duration.

Heavy Vehicle Sales Up 19.7% in July, Says ANPACT

The heavy vehicle industry in Mexico saw significant growth in July 2024, with wholesale sales increasing by 19.7% year-over-year, according to the National Association of Bus, Truck, and Tractor Producers (ANPACT). The association reported 5,451 units sold in July, up from 4,553 units in the same month last year.

Chirey Group Restructures Mexico Operations as Sales Decline

Chinese automaker Chirey Group is restructuring its operations in Mexico to better position its brands in a competitive market. The company plans to consolidate its four brands—Chirey, OMODA, JAECOO, and EXEED—under a unified commercial strategy. 

Electric, Hybrid Vehicles to Drive the Future of Mexican Mobility

Technology has significantly transformed the process for customers, reducing the need for frequent visits to dealerships and making information updates more efficient. These tools also accelerate credit authorization processes by enabling a more accurate assessment of each customer’s financial history. Instead of applying generalized processes, we can now analyze each case individually and adapt financing options to the specific needs of the customer, considering their age and financial situation. This improves accuracy and speed in meeting each customer's needs.

Choosing Your New Vehicle, and the Best Financing Option

To plan your budget, you should take into consideration a certain percentage of your future income by including financing, which will let you have the opportunity to buy a vehicle you wouldn’t be able to buy with your available cash today. There are three main financial tools that may help you decide which suits you better:  credit, leasing or autofinancing. 

INA’s Roadmap: Innovation, Sustainability, and Global Trends

The main challenges auto parts manufacturers face in the country are adopting new technologies and growing. Growth requires investing, hiring personnel, and securing sufficient land and energy. To adopt new technologies, it is crucial to have a forward-thinking mindset and be prepared for the transition to lithium and solid-state batteries, hydrogen technologies, and autonomous driving. Keeping pace with these advances represents a considerable challenge.

Nearshoring to Fuel US$1.9B Investment in Mexico’s Auto Sector

The automotive industry in Mexico is expected to attract investments totaling approximately MX$36.2 billion (about US$1.9 billion) over the next two to three years, driven by the nearshoring trend, according to MONEX.