The aim of the plant is to make Mexico a focal point for growth and expansion of the SAIC Group and MG in Latin America and the Caribbean, MG said.
SAIC Motor’s MG Motor plans to build a manufacturing plant and research and development center in Mexico to support its expansion in Latin America.
The move will enable MG to not only produce cars but also provide market intelligence specifically developed for and by Latin America, Zhang Wei, head of MG Mexico, said in a statement on Wednesday, according to a Reuters report.
MG’s sister brand, IM Motors, is also planning to enter the Mexican market, the company said.
The plant is intended to make Mexico a growth and expansion pole for the SAIC Group and MG Motor in Latin America and the Caribbean, MG said.
MG would be the latest automaker to consider building a plant in Mexico. In March, Bloomberg reported that BYD (HKG: 1211, OTCMKTS: BYDDY) had sent a delegation to the Mexican state of Jalisco to explore building an electric vehicle (EV) plant there.
BYD unveiled the BYD Shark pickup truck at a launch event in Mexico on May 14, one of the rare moments when a new model debuts in a foreign market.
MG, short for Morris Garages, is a vehicle brand of the Shanghai-based company SAIC.
On November 4 last year, MG rolled off the production line of the first locally produced new MG4 Electric Thailand Edition, the first electric vehicle produced by MG in Thailand.
On March 20, Indian steelmaker JSW Group announced that it had entered into a joint venture with SAIC in the automotive sector, JSW MG Motor India Pvt Ltd, to locally produce MG-branded electric vehicles.
Earlier last month, Europa Press reported that MG was considering building its first electric vehicle factory in Europe in Galicia, Spain.
MG will make a decision by September 30 and intends to produce its first vehicle at this European plant in the fourth quarter of 2027, the report said.
SAIC brand MG reportedly considering Spain for its first electric car plant in Europe
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