New Investments, Sustainability, Data: The Week in AutomotiveBy Alejandro Enríquez | Thu, 06/03/2021 - 18:14
Mexico remains a strategic location for manufacturing companies looking to relocate operations to North America. Yanfeng built two new plants amid the pandemic and one more is on the go. Do not miss our interview with Yanfeng’s Operations Director, Lourdes Cobos.
The heavy vehicle segment continues to bet on sustainability. ANPACT is actively working on NOM-044 with governmental agencies. On international roads, Ford's Mustang Mach-E (manufactured in Toluca) topped Norway's car sales in May, while EV startup Rivian is expected to reach US$70 billion valuation in its coming IPO.
Ready? This is the week in automotive!
Yanfeng Builds Two New Plants Despite Pandemic, One More Coming
"Our seat plant in Monterrey is fully operational. We also built a fifth plant in the northern region and we are ramping up operations in Saltillo. In a matter of 11 months, Yanfeng has built two new plants and we are planning to build an additional facility next year," says Lourdes Cobos, Operations Director at Yanfeng Automotive Interiors Mexico.
Heavy Vehicle Sector Focuses on Sustainability
The Mexican industry association representing heavy vehicle producers and several dealers announced different strategies to empower truck-owners, while focusing on reducing the sector’s environmental impact. "As a part of the heavy vehicle sector, we can contribute to improving the environment in Mexico. To reduce emissions you need cleaner, newer and more efficient vehicles and there is where our sectors invest heavily to develop new technologies," said Miguel Elizalde, President of ANPACT.
The Business of Connected Vehicle Data
Connected vehicle data market will continue growing and be valued at US$500 billion by 2030 by connecting over 600 million vehicles worldwide. Wejo, an expert in the management of connected vehicle data, announced it aims to go public alongside of Virtuoso Acquisition Corp. "Insights developed by our data will make mobility safer, smarter and more sustainable," said Wejo’s Founder Richard Barlow. Wejo's current value is estimated to be about US$800 million.
Mobility and the End of the Pandemic Era
Urbvan Transit has created strategic partnerships with Uber México, says Joao Matos, Co-founder of Urbvan Transit. "Here at Urbvan, we have come up with an intelligent design for a shared transportation network that aims to support this new reality in its different ways of getting around." Matos also details mobility trends in the post-pandemic era.
On international roads Ford's active approach toward electromobility proves to be fruitful. Mustang Mach-E, the electric version of one of its iconic models, topped Norway's car sales in May. This model is produced in Toluca, Mexico. The Norwegian market is acting as a test field for electric mobility as in 2020, EVs represented 54 percent of total sales.
Amazon and Ford have backed Rivian at its previous valuation of US$27.6 billion. The EV company aims to compete with Tesla in the electric-pickup and SUV segments.