Queretaro to Host New Auto Summit; Sodecia to Invest in Coahuila

Mexico’s automotive industry keeps working to return production and exports to pre-pandemic levels. Queretaro will host the first edition of the International Automotive Supply Summit 2023, which aims to attract over US$3.5 million in investment. Meanwhile, automotive company Sodecia announced a US$36 million investment in its plant in Ramos Arizpe, Coahuila.

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Queretaro to Launch New International Automotive Summit

Queretaro continues to assert itself as one of the most important automotive hubs in Mexico. The National Auto Parts Industry (INA) announced the launch of the International Automotive Supply Summit 2023, which aims to be a meeting point for over 2,000 auto parts manufacturers and 4,000 service providers. It also seeks to close investments surpassing US$3.5 million. 

Marco Antonio Del Prete Tercero, Minister of Sustainable Development (SEDESU) of Queretaro, highlighted the importance of the region in Mexico’s automotive sector “Queretaro is the epicenter of auto parts production, for that reason, we are happy to host the International Automotive Supply Summit 2023,” he wrote. See the complete article here. 

Sodecia Announces a US$36 Million Investment in Coahuila 

The auto parts company announced a US$36 million investment to increase production capacity in its plant in Ramos Arizpe by 70 percent, allowing it to manufacture vehicle components for companies such as General Motors (GM) and Tesla. The creation of a new production line will generate 200 jobs and increase Sodecia’s baseline portfolio to meet the demand of North America and expand to South America. 

The plant in Ramos Arizpe plays an important role for the company, which arrived in the region 14 years ago. Since then, it expanded its productive capacity from 5,600 to 10,000 assemblies per week, for a total of 110,000 units per year, said Enrique Meza, General Manager, Sodecia Mexico. Find out all the details here. 

Lyft to Increase Service Fee Due to Higher Insurance Costs

Mobility service company Lyft announced it will increase its fee for customers in the US due to larger insurance costs. Data from YipitData showed that the service fee increased on average by US$.60, meaning an 18 percent increase. 

“Lyft is facing insurance inflation pressures and we have nominally increased service fees to help offset these costs,” said the company. Check out the statements. 

Stellantis Calls for Renegotiation of EU’s 2035 ICE Vehicle Ban 

Earlier this year, the EU proposed an effective ban on the sale of new internal combustion engine (ICE) vehicles by 2035, the ban aims to reduce emissions in the region and fight global warming. This ban has drawn criticism from members of the automotive industry. Carlos Tavares, CEO, Stellantis, called for a renegotiation and urged for the use of hybrid models as middle step towards zero-emission vehicles. 

"The dogmatic decision that was taken to ban the sale of thermal vehicles in 2035 has social consequences that are not manageable,” said Tavares. He added that these measures would exclude a large part of the population from owning a personal vehicle, since EVs tend to be more expensive than ICE and hybrid models. Read more about the story.