UK Companies Explore the Mexican Electromobility Market

During America’s Mobility of the Future inauguration ceremony, Nuevo Leon’s governor Samuel Gacía highlighted the importance of Mexico for the global electromobility industry, which has brought significant investment to the country, especially to Monterrey. Companies from all over the world, especially from Europe and Asia, are looking for business opportunities in Mexico, to respond to these growing opportunities. 

Mexico is taking further steps toward the electrification of the automotive industry. According to experts, the country is in an advantageous position as it can learn from other countries’ successes and mistakes. “Mexico is in a privileged position, as it is embracing electrification at a great stage, when technology is more advanced and cheaper than when Europe started to electrify its vehicles. Back in those days, vehicles had an autonomy of over 100km. Now, autonomy ranges between 400 and 500km,” Lorenzo Ortego, CEO, Voltway, said in an interview with MBN. 

Countries with advanced electromobility technology like the UK, which is the G7 country with the fastest adoption of decarbonization strategies, are looking to enter the Mexican market to harness the momentum electromobility is experiencing. During the Mobility of the Future event, the UK Embassy in Mexico brought several companies that would make a good fit for the Mexican automotive sector, like 360-DMG, Midland Tool and Design, TR Fastenings and Hirts Magnetic Instruments, among other companies. 

In an interview with MBN, Robert Trethewey, Product Manager, Hirst Magnetic Instruments, said that the trade mission organized by the UK Embassy brought many benefits for Hirst as it aims to supply permanent magnets and magnetic-related equipment to Tier 1s and OEMs that are looking to develop electric vehicles. 

According to Trethewey, electrification efforts have exponentially increased over the past five years, reflecting the increasing demand for magnetic solutions. "We have observed a significant increase in our activity in recent years. The number of inquiries concerning electric vehicle rotors has risen substantially compared to five years ago. Back then, we would receive perhaps one or two inquiries annually from individuals who were contemplating electric vehicles. Nowadays, numerous companies have joined the electric vehicle sector, recognizing its status as the future of transportation," he mentioned.  

Trethewey highlighted the importance of trade missions like the one that the British Embassy organized, as it speaks of the country’s commitment to both developing UK-based companies and developing an essential industry, such as electromobility. While the company is only looking to import to Mexico, the door is open for future manufacturing ventures. 

“Our initial step involves exporting equipment to an OEM or Tier 1 company. Following that, the direction we take will depend on the level of success we achieve. However, it is worth noting that there is a notable surge in activity and promising business opportunities in this region. The Embassy’s program has been incredibly supportive. We have received ample information regarding the Mexican market and how it aligns with our company. Moreover, it has facilitated valuable connections with individuals whom we believe we can assist and who can also potentially benefit our business," Trethewey added.