Mexico’s manufacturing sector is undergoing a transformation thanks to nearshoring, with the Mexican Association of Mold and Die Manufacturing (AMMMT) envisioning a thriving landscape for the molding industry. Meanwhile, automakers in Mexico brace for the potential ramifications of an impending strike in the US, which could jeopardize supply chains. Finally, a Vietnamese electric vehicle manufacturer enters the stock market, quickly outpacing industry giants.
Fasten your seatbelts! This is the Week in Automotive!
The Mexican Association of Mold and Die Manufacturing (AMMMT) envisions a thriving landscape for the country’s mold and die industry, which is poised to experience exponential growth in the coming years. The sector aims to double its manufacturing capabilities by leveraging nearshoring opportunities and the burgeoning automotive sector.
A potential strike at major US auto plants could have far reaching impacts on Mexico´s automotive industry, particularly in the northern region of the country, warns Jaime Guerra Pérez, Executive Vice President of Nearshoring and Competitive Development, national executive of CANACINTRA. The potential strike involves workers of General Motors, Ford and Stellantis, who are being represented by the United Auto Workers (UAW) union.
Grupo Daimler Truck México has unveiled its first Sustainability Report, setting the stage for a new era of environmentally friendly practices in the Mexican automotive sector. The sustainability strategy aims to achieve CO2-neutral production of heavy vehicles by 2023.
Paramount New Materials announced plans to invest US$200 million in the state. Governor Miguel Angel Riquelme officially confirmed the arrival of Paramount New Materials and expressed his enthusiasm for the positive impact this investment will have on the state.
Vietnamese electric vehicle manufacturer VinFast has made a significant impact in the industry with its Nasdaq debut on Aug. 15, 2023. The company's US$85 billion valuation surpasses its previous SPAC valuation of about US$23 billion and allows it to outshine renowned automakers like BMW and Volkswagen.
In the era of Industry 4.0, the combination of AI and robotics has propelled many sectors to new heights. But businesses adopt this technology, “it is essential to understand its economic advantages, its role in sustainability and the strategic integration required for maximum impact,” writes Manuel Macedo, President, Honeywell América Latina.