Nuria Minondo

06May

BMW begins construction of Battery Module Production Center in SLP

mayo 6, 2024 Nuria Minondo

BMW Group San Luis Potosí Plant started the construction of the Battery Module Production Center, in addition to the expansions of the body shop area and the assembly and logistics areas within its complex located in the Logistik II industrial park in Villa de Reyes.

For this project, the German firm invested 800 million euros, allocating 500 million specifically for the construction of this center, which will be located in an area of 81,876 m²; the building corresponds to a steel structure of one floor with mezzanine with a height of 12.2 m, being a CO2-free building.

“This is a sign of BMW’s confidence in San Luis Potosi and its people. In recent years BMW has met important milestones and is ready to take the next step. We are ready to be a production site, sustainable, digital and efficient. This plant was the most sustainable BMW plant in the world,” commented Harald Gottsche, president and CEO of BMW Group Planta San Luis Potosí.

For his part, Milan Nedeljković, BMW Group AG board member responsible for production mentioned that “The production of high-voltage batteries in San Luis Potosí will be part of our global production network for the new sixth e-drive generation. To this end, we are building five sites on three continents”.

He added that, “BMW Group is committed to the ‘local for local’ principle worldwide: locating battery factories close to vehicle manufacturing to strengthen the production process.”

In addition to the San Luis Potosi location, production sites for sixth-generation high-voltage batteries are also being built in Debrecen (Hungary), Shenyang (China), Woodruff near Spartanburg (USA) and Irlbach-Straßkirchen (Lower Bavaria).

Expansion in body shop and logistics

In addition to the integration of battery production, the body shop area will be expanded by almost 20,000 m² to more than 90,000 m², which will be used for the production of the vehicle floor. On the other hand, the assembly area will be used for the battery incorporation process, which, together with logistics, will be expanded by almost 10,000 m².

“With this new development we are preparing in San Luis Potosí for the launch of the next generation of BMW models. We will be pioneers in the industry as the first premium carmaker in Mexico to produce fully electric vehicles and high-voltage batteries, while continuing to reduce our environmental footprint,” said Harald Gottsche, president and CEO of BMW Group Planta San Luis Potosí.

Human capital development

The German company will also invest 10 million pesos in its training center for training rooms, robot integration and electromobility. The aim of this project is to implement training programs for the employees of this new area, with the objective of ensuring that its human talent is highly qualified. These trainings will start with awareness-raising topics on safety in the production of high voltage systems and robotics, manufacturing processes, among others.

General information

As part of the project follow-up, equipment installation will take place in June 2025, while construction is expected to be completed in January 2026.

Production is expected to start in 2027 with a volume of 30 units per hour.

Source: Mexico Industry

30Abr

Mexico’s Imports and Exports: Requirements and Implications

abril 30, 2024 Nuria Minondo

Mexico is a significant player in the global market, as evidenced by its dynamic import and export sectors. Its strategic geographical location, extensive trade agreements, and diverse economy make it an appealing hub for international trade.

However, engaging in imports and exports in Mexico requires understanding its requirements and implications.

Understanding Mexico’s Trade Landscape

Mexico as an important manufacturing country has among its tops exports: Automobiles, automobile parts, machinery, electronics, and petroleum products.

The tops imported products include a diverse range of goods such as machinery, electronics, vehicles, and consumer goods. Its trade relationships are global, with key partners such as the United States, Canada, China, and the European Union.

Imports’ Requirements

Importing goods into Mexico requires adherence to a set of regulations and procedures.

First of all, in order to be able to import, the company must obtain the Registry of Importers. Additionally, specific goods may require permits such as the Specific Sector Importer’s Registry or additional permits, licenses and NOMs compliance might apply depending on the materials and goods to be imported.

For example, certain products, such as food, pharmaceuticals, and chemicals, may require health and sanitary certificates issued by the relevant authorities in the exporting country.

As you might be well aware, importers must pay applicable duties and taxes, which can vary depending on the nature of the goods and their country of origin. Import duties and taxes will be defined according to the tariff classification.

Some of the general documents required on an import process include:

Commercial Invoice: This document provides details about the goods being imported, including their description, quantity, value, and terms of sale. It is used for customs clearance and determining duties and taxes.
Packing List: This document details the contents of each package in the shipment, including weight, dimensions, and packaging type.
Bill of Lading (B/L): The B/L is issued by a carrier to a shipper that details the type, quantity and destination of the goods being carried.
Pedimento: It is the main document in the import process, which consists on a detailed customs declaration created by the custom broker and that specifies information about the importer, exporter, goods, value, and tariff classification. It must be submitted electronically through the Mexican Customs Authority’s system.
Certificate of Origin: Some goods may require a certificate of origin to qualify for preferential tariff treatment under free trade agreements.

Exports’ requirements

Similarly, exporting goods from Mexico involves compliance with regulations and documentation.

Some goods, depending on the applicable HTS code, may require an export license or permit issued by Mexican authorities. The specific requirements depend on the type of goods being exported.

Exporters should also take into account the destination country requirements and regulations, including customs procedures and tariffs.

Some of the general documents required on an export process include:

Pedimento: Same as with imports, it is the main document in the import process, which consists on a detailed customs declaration created by the custom broker and that specifies information about the importer, exporter, goods, value, and tariff classification. It must be submitted electronically through the Mexican Customs Authority’s system.
Certificate of Origin: Similar to the import certificate of origin, this document may be required to qualify for preferential tariff treatment under free trade agreements or to comply with export regulations.
Customs Export Manifest: A document listing all goods being exported and their details, submitted to customs authorities.

Implications for Business and Economy

Mexico’s import and export landscape provides numerous opportunities and challenges for businesses and the economy.

Navigating regulatory requirements requires businesses to invest time, resources, and expertise, as compliance is critical for market access and maximizing trade benefits.

Failure to comply with regulations can result in delays, fines, or even the seizure of goods, affecting supply chains and profits.

A strategic business partner and local expert such as Mexcentrix can help you to be fully compliant in the import and export requirements, minimize risks and to facilitate the complete process.

22Abr

Japanese company Yokohama Rubber begins construction of a plant in Coahuila

abril 22, 2024 Nuria Minondo

To manufacture tires, with an investment of 380 million US dollars and the generation of 1,100 direct jobs.

With an investment of 380 million dollars (million dollars) and the generation of 1,100 direct jobs, the company of Japanese origin, Yokohama Rubber Company, began construction of its new plant this Monday. plant in Saltillo, which will manufacture automobile tires.

The company will be installed in the industrial zone of Derramadero, south of Saltillo, where the state governor, Manolo Jiménez, accompanied the company’s directors to lay the first stone.

The governor indicated that to achieve the arrival of Yokohama to Coahuila, a visit to the offices of the Japanese company was necessary, where after a talk with the president of the corporation, Masataka Yamaishi, an agreement was reached on the investment in the municipality of Saltillo.

“It is very important to continue working as a team, companies like Yokohama come to Coahuila because we are a safe state, a competitive state, a state where we have energy, water, land, qualified labor, and we have to take care of that, it is not the work of It is a coincidence that Saltillo, that Coahuila is one of the best places to live and invest,” stated the state president.

Manolo Jiménez thanked the Yokohama company for having decided to invest in Coahuila.

For his part, the president of Yokohama Rubber, Masataka Yamaishi, stated: “We firmly believe that our presence in Mexico will not only improve the economic fabric of the region but will also strengthen the ties of friendship and cooperation. between our two nations.”

The president of YTC, Jeff Barna, mentioned that with the establishment of this new factory, not only is there a closer relationship with the customer, but the quality of the products is improved, in addition to pointing out that this strategic position goes beyond guaranteeing a stable supply of tires since it is also focused on improving the economic conditions of the region where it is installed.

“The establishment of this company here in Saltillo is significant for us, especially in its role of serving the North American market, and this is an important market for us, driven by savvy customers who demand excellence, trust, and value.”

Source: Vanguardia Industrial

15Abr

Common Errors when Nearshoring to Mexico

abril 15, 2024 Nuria Minondo

In recent years, nearshoring to Mexico has gained popularity, as it provides numerous benefits to companies looking to expand operations. Mexico offers a compelling proposition in terms of both cost and geographical proximity to the U.S. However, as with any business venture, nearshoring to Mexico presents challenges and potential risks and errors, which are mentioned in the following section of this blog.

Expecting to operate as in country of origin

One of the main errors companies fall into when investing in a new country is thinking everything works and should be done as in the country of origin, nevertheless, it is always important to consider procedures, regulations, laws, and culture among others can be very different in Mexico.

Lack of Cultural Understanding

As above mentioned, of the most common mistakes businesses make when nearshoring to Mexico is underestimating the value of cultural understanding. Mexico has a rich and diverse culture. It is important to recognize cultural nuances, to have a good relationship with employees and partners and to avoid misunderstandings, communication breakdowns, and eventually, project delays or failures.

To minimize the risk of falling into this error, businesses should invest in cultural training for their employees, which promotes cross-cultural awareness and sensitivity. Furthermore, developing strong relationships with local partners such as a shelter company, which can provide invaluable information about Mexican business practices and cultural norms, is always a good idea.

Ignoring Legal and Regulatory Compliance

Navigating the legal and regulatory landscape in Mexico can be difficult, particularly for foreign companies unfamiliar with local laws and regulations. Failure to comply with legal requirements may result in fines, legal disputes, and reputational harm. Common areas of oversight include labor laws, tax regulations, and intellectual property protection.
To mitigate this risk, businesses should hire legal experts with experience in Mexican law to ensure compliance with all applicable regulations. Investing in thorough due diligence and understanding the legal framework upfront can save time, money, and headaches in the long run.

Challenges in Communication

Effective communication is critical in nearshoring to ensure a successful operation. Language barriers and communication styles can present significant challenges. While English is widely spoken in Mexico, many employees do not speak English or are not fluent. Furthermore, differences in communication styles and expectations can cause misunderstandings and misinterpretations.
To address communication challenges, businesses should offer language training as needed and foster an open communication culture. In addition, using bilingual staff or translators can help teams communicate more smoothly and ensure everyone is on the same page.

Underestimating Infrastructure Requirements

Mexico’s infrastructure varies greatly, and businesses may face challenges with transportation, logistics, and access to reliable utilities, for example, power its availability for high requirements is currently limited in many parts of Mexico. Underestimating infrastructure requirements can lead to production delays, increased costs, and operational inefficiencies.

Before nearshoring to Mexico, businesses should conduct thorough infrastructure assessments and choose locations with adequate transportation networks, access to utilities, and proximity to suppliers and markets. Investing in infrastructure upgrades as needed can help to reduce risks and maintain smooth operations. Local experts such as a shelter partner, that guide you since the site selection can advise you from the beginning on this topic.

How to address risks when nearshoring to Mexico

Nearshoring to Mexico has numerous advantages for businesses looking to expand their global footprint, but it’s critical to approach the process carefully and strategically. Companies can maximize the potential of their nearshoring operation, by minimizing risks and avoiding common mistakes. With careful planning, cultural sensitivity, and help from local experts, businesses can capitalize on Mexico’s opportunities and achieve long-term regional growth.

If you’re looking for expert advice and support during your nearshore transition, don’t wait to Contact us! Mexcentrix shelter services can help you run operations efficiently, while at the same time reducing risks and costs.

10Abr

Mexico Supplies 42.5% of US Auto Parts Imports

abril 10, 2024 Nuria Minondo

Mexico has solidified its position as a leading supplier of auto parts to the United States, accounting for 42.5% of total imports in the first two months 2024, up from 38.2% six years ago, according to data from the United States Department of Commerce.

In addition to Mexico’s performance, with record breaking exports, Canada experienced a 16.8% growth in auto part exports to the United States in the first two months of 2024, while China witnessed a 19.2% decline in its shipments to the same market.

The implementation of the USMCA has brought about changes in the automotive sector’s landscape. The agreement’s stricter North American content requirements, known as rules of origin, have reshaped trade dynamics. Mexico’s recent performance in auto part exports underscores the impact of these regulations, with shipments totaling US$13.5 billion in the first two months of 2024, marking a 41.1% increase compared to the same period in 2018.

“The growth (of Mexico) remains very strong. We’re just one step away; we’ve recently surpassed Germany to secure the fourth position. Japan is facing challenges, but we’re growing considerably, and Japan is shrinking, so we’re in a competitive position to aim for the third spot in the coming years”, said Francisco González, President, National Autoparts Industry (INA).

USMCA’s rules of origin have been subject to interpretation disputes among the member countries. While the United States advocated for a more stringent approach to calculate North American content, Mexico and Canada argued for a more flexible interpretation to assist North American producers in meeting content requirements.

The USMCA also mandates an increase in the Regional Value Content (RVC) from 62.5% under NAFTA to 75%, with a gradual growth to this threshold by 2023. The agreement also introduces wage requirements stipulating that 40 to 45% of automobile content must be produced by workers earning at least $16 per hour.

Despite these regulatory shifts, the full impact of the rules of origin may not be apparent until the agreement is fully implemented in 2027 or later, according to the US International Trade Commission (USITC).

Mexico’s automotive industry’s robust performance extends beyond exports, with domestic production reaching record levels in January 2024. The sector reported a 9.14% growth compared to January 2023 and a significant increase of 29.2% compared to pre-pandemic levels in 2019. This growth is attributed to nearshoring initiatives, which have expanded manufacturing operations to states traditionally not associated with the automotive industry.

“Another factor that will push Mexico to become a major player in automotive supply is electromobility, because more green cars are already being manufactured, and having safer supply and logistics in North America makes Mexico more attractive”, added González.

Source: Mexico Business

05Abr

AI Chips will now be Manufactured in Mexico

abril 5, 2024 Nuria Minondo

US tech giants are betting on Mexico as the next hub for artificial intelligence (AI) chip manufacturing.

According to a recent WSJ publication, this decision not only seeks to diversify production outside China, but also to take advantage of the free trade agreement between the United States, Mexico and Canada (USMCA).

Foxconn, known for being the world’s largest contract electronics manufacturer, has responded to demand from US companies by increasing its investments in Mexico.With US$690 million over the past four years and the acquisition of land in Jalisco for US$27 million, Foxconn is significantly expanding its production of AI servers.

According to the report, leading companies such as Nvidia, Amazon, Google and Microsoft are using Foxconn’s facilities in Mexico to meet their AI server needs. This move is part of a broader strategy to reduce dependence on supply chains from China, considered a political adversary of the United States.

According to Foxconn data, Mexico has proven to be a profitable investment, shaking up international trade with imports from the country and surpassing those from China for the first time in two decades. However, the country faces challenges such as high crime rates and wage competition for skilled workers in high-tech assembly.

However, Mexico has attracted not only AI hardware manufacturers, but also several automakers. According to data published by the International Organization of Motor Vehicle Manufacturers (OICA), car manufacturing in Mexico experienced a 14% increase in year-on-year comparison and reached the figure of approximately 4 million units in 2023. This figure marked a year of remarkable growth for the country’s automotive sector.

Naturally, this also implies a general trend within the industry towards “nearshoring” as a key strategy, bringing production closer to core markets to streamline deliveries, improve supply chain transparency and optimize operational efficiency.

With tech giants at the forefront, redefining their manufacturing strategies, we are likely to see a significant transformation. This movement could inspire more companies to explore alternative manufacturing hubs that promise strategic and economic advantages for Mexico.

Source: Mexico Now

13Mar

Shelter Company: Your best partner when expanding to Mexico.

marzo 13, 2024 Nuria Minondo

Have you ever heard of a shelter company? Is your company considering starting operations in Mexico and you do not know where to start from?

Expanding operations to a new country is an exciting venture, but can be overwhelming, especially if you do not count with a local business partner that can help you throughout the process.

Likewise, one strategic approach that has proven to be a game-changer for many businesses looking to start operations in Mexico is partnering with a shelter service company.

What is a Shelter Company

A Shelter Service Company is commonly known as a business service in which a foreign company can establish a presence in a new country without having to set up its legal entity or infrastructure. This model is particularly common in the context of international business expansion and outsourcing.

Above all, in a shelter company setup, the foreign business essentially partners with a local entity that already counts with all the necessary legal, administrative, and operational infrastructure in the target country. This local entity, often the shelter company, assumes certain responsibilities on behalf of the foreign business, which may include aspects such as legal compliance, human resources, payroll, tax management, and administrative support.

Thus, the foreign company can focus on its core business while at the same time minimizes risks and liabilities while operating in Mexico.

Challenges and Risks for Starting Operations in Mexico

Cultural Variations

Challenge: Successful operations require an understanding and adjustment to Mexico’s distinct business culture.

A local shelter services provider can offer cultural insights to help your company navigate and integrate smoothly.

Complexity of Regulations

Risk: It can be difficult to navigate licenses, permits, and federal, state, and local regulations, and ensure a 100% compliance if you are not aware of local laws

Furthermore, shelter companies lower regulatory risks and ensure legal compliance due to their extensive knowledge of Mexican regulations.

Labor Law Considerations

Challenge: Mexico has intricate labor laws that might not be the same as those in other nations, thus making more difficult its compliance.

HR services are handled by shelter service providers, who also make sure that labor laws are followed and reduce risks associated with employment and reduce fines.

Variations in infrastructure:

Challenge: Regional variations in infrastructure may affect the dependability and accessibility of services and transit.

By assisting in the selection of sites, shelter companies can provide useful information on the availability of adequate infrastructure that can help reduce operational difficulties further on.

Advantages of Partnering with a Shelter Company

Quick Market Entry: Shelter companies have pre-established legal entities, that already count with the necessary permits and licenses, enabling rapid market entry without the need to set up a new entity from scratch.

Cost Savings: Shared infrastructure and administrative personnel, result in significant costs savings compared to independently establishing and maintaining a legal entity.

Regulatory Compliance: Shelter service providers have a deep understanding of local regulations, ensuring legal compliance and reducing the risk of regulatory issues.

Human Resources Management: By handling HR duties like hiring, payroll, and benefits administration, shelter companies streamline processes and can help with the company’s personnel ramp-up in a short amount of time.

Operational Support: Shelter companies often provide support with logistics, distribution, and supply chain management, ensuring smooth operational processes.

Cultural and Language Support: Local expertise from shelter companies facilitates effective communication, understanding of cultural nuances, and smoother business interactions.

In conclusion, partnering with a shelter service such as Mexcentrix when expanding to Mexico is a strategic decision that addresses challenges, mitigates risks, and provides a streamlined entry into the Mexican market.

Furthermore, our expertise, support and cost-effective solutions contribute to the success and sustainability of businesses seeking to establish a strong presence in Mexico. Contact us! 

23Feb

San Luis Potosí Leads Industrial Growth Mexico City

febrero 23, 2024 Nuria Minondo

In 2022, the value of production in Mexico’s manufacturing industries surged to 11 trillion pesos, marking a robust 14.8% increase from the previous year, as per the latest data released by the National Institute of Statistics and Geography (INEGI).

The Annual Survey of Manufacturing Industries (ASMI) by INEGI reveals that San Luis Potosí has clinched the top spot nationally for the second consecutive month in terms of manufacturing industry growth.

Mayra Edith Velázquez Loera, Head of the State Population Council (COESPO), unveiled that the state recorded an impressive 25.3% annual percentage variation in October 2023 compared to the same month in 2022, positioning it as a national benchmark.

Automotive Sector Thriving in SLP

Following the release of the Monthly Industrial Activity Indicator by State (MIAIS), which ranked San Luis Potosí third nationally in October 2023 with a real variation of 17.6% compared to October 2022, the state surged to the top spot in the Central-Bajío-Western Region. It contributed significantly to the total real variation of MIAIS, accounting for 0.55% during the reference period.

In an exclusive interview with Mexico Industry, Luis Alberto González Olvera, Director of the Automotive Cluster of San Luis Potosí, remarked, “This success underscores the commitment and progressive vision within the region. San Luis Potosí reflects the burgeoning potential and community capacity to drive sustainable development.”

González emphasized that this achievement not only benefits the local economy but also creates avenues for professional and personal growth for residents across the Central-Bajío-Western Region.

“The entire area is deeply interconnected. Companies establishing themselves in San Luis Potosí not only serve the local market but also cater to enterprises in Guanajuato, Jalisco, and Aguascalientes,” clarified González.

Regarding the National Automotive Cluster Network (REDCAM), of which San Luis Potosí is a part of the board, the cluster director explained their close collaboration with the states and ongoing communication with all executives.

“We will have some focused initiatives related to the issue of supplier development that we will be presenting this year to participate in events in Guanajuato and Querétaro. This will provide a greater number of options for companies seeking to replace some components currently sourced from Asian companies,” González informed.

The remarkable growth trajectory of San Luis Potosí’s industrial landscape underscores the region’s pivotal role in Mexico’s manufacturing sector and its broader economic prosperity.

Minería inyectó a SLP 300 mdd en el último año | San Luis Potosí

Source: Mexico Industry

09Feb

San Luis Potosi: third state with the largest automotive investment in 2023, exceeding 1,600 MDD

febrero 9, 2024 Nuria Minondo

During 2023, San Luis Potosí accumulated 1.658 billion dollars in automotive investments, thanks to its 10 projects, seven of which correspond to the electromobility sector, with BMW’s investment of 872 million dollars standing out.
San Luis Potosí, Mexico, February 6, 2024.- Directorio Automotriz, the automotive sector’s business link and intelligence platform, revealed data on investments in the mobility industry in Mexico with the publication of its whitepaper ‘Automotive Investment Report 4Q 2023’. This document gathers the most important results of Foreign Direct Investment and Nearshoring in the automotive industry during the fourth quarter of 2023, as well as a summary with investment results from January to December of that year.

Regarding the results of the fourth quarter of 2023 (October-December), Mexico accumulated $3,065.56 MDD in automotive investments, which indicates a drop of -33. 2% against the same period of 2022; in view of this, it is worth remembering that 4Q 2022 represented a record for that quarter in automotive investment, this, added to a small slowdown in the sector towards the end of the year explains the result, which is not bad, since, although the total amount is lower, the number of projects increased 12.9%, with a total of 70 in the fourth quarter of 2023.

INVESTMENTS FOCUSED ON THE AUTOMOTIVE GROWTH OF SAN LUIS POTOSÍ

The report also highlights that the Mexican states that registered the largest investments during the period from January to December 2023 were Nuevo León, with 43% of the national total (US$ 8,024.10 M), followed by Coahuila with 18% (US$ 3,418.25 M) and San Luis Potosí with 9% (US$ 1,658.3 M).

Comparison of states and their automakers 2023

In particular, San Luis Potosí consistently maintained its position in third place thanks to BMW’s US$872 million investment for its new electric vehicle assembly line and a high-voltage battery manufacturing plant, carried out in the first quarter of 2023.

During the same period, Steel Dynamics, the third largest steelmaker in the United States, acquired the land for the Ford plant for a total of US$103 million, which included the ownership of 280 hectares and the generation of up to 3,000 jobs for a new foundry plant.

In addition, in the second quarter of 2023, San Luis Potosí received an investment of 372.6 million dollars from the Chinese company Asiaway for die-casting processes (HPDC) and aluminum and zinc machining for auto parts.

During the same period, TAXAN Mexico, an electronic card manufacturer, began construction of its new facilities in the Millenium Industrial Park in San Luis Potosí, with an investment of US$40.6 million, with the goal of producing 500,000 items per month.

In the third quarter of 2023, San Luis Potosí received an important investment from Tier 1 BorgWarner, which allocated US$198 million to expand its production in Villa de Reyes, focusing on the manufacture of electric motors, power electronic components and electronic circuits.

SAN LUIS POTOSÍ WILL CONTINUE TO ATTRACT INVESTMENT IN 2024

San Luis Potosi’s participation in the automotive industry allowed the generation of 7,980 new jobs and an industrial construction area of 295.9 hectares in 2023, the same period in which 10 projects were completed in the state, 7 of which were focused on electromobility, which responds to the growing demand generated by BMW’s new production line.

Accumulated amount by state (2023)

Regarding electromobility, it is predicted that more companies related to electromobility will arrive to connect with the North American market and could be established in areas close to Nuevo Leon and Coahuila, such as San Luis Potosi, where there is a great opportunity to develop industrial spaces to house these companies.

In relation to this growth, Adrian Martinez, Content Area Leader of Cluster Industrial, expressed on September 8, 2023 during the webinar ‘Electromobility in Mexico: Current Data and Projections until 2024’: “There are auto parts that we are going to stop using and there is an important migration by manufacturers to move their business models to components related to electromobility, which are experiencing accelerated growth”. This underscores the need for transition and positions San Luis Potosí as a leader in electromobility in Mexico.

Source: Cluster Industrial

07Feb

Chinese Car Assembly Plants Seek to Set Up in Nuevo León

febrero 7, 2024 Nuria Minondo

At least seven car assembly plants are considering setting up operations in Mexico, five of which are of Chinese origin and are looking to install their plants in Nuevo Leon.

The general director of Colliers in Monterrey, Sergio Reséndez, revealed that during a meeting that the Colliers team had with the Mexican Ministry of Economy, it was mentioned that there are seven automakers that are evaluating setting up in the country.

Reséndez informed that three of these companies have already visited the state to evaluate the infrastructure and that there will be more news after the second half of the year, after the elections.

Supply of all types of products

“Nuevo Leon is leading in a total of three or four states that are already finalists, these are Coahuila, Chihuahua, San Luis Potosi and Zacatecas,” he said.

Likewise, the general director pointed out that there is a Chinese company that manufactures electric or traditional or conventional vehicles, which is about to make a decision and would need all kinds of suppliers.

Due to the advantages that Saltillo and Monterrey have as suppliers for the value chain and the generation of jobs, he emphasized that these entities will always appear in the list of analysis for the installation of automobile assemblers.

Key points

“In the Monterrey-Saltillo corridor there are all kinds of suppliers that could supply any of the assembly plants that are already in Nuevo León, as well as a new one,” he pointed out.

From 2021 to date, more and more Chinese brand companies have been placed, according to statistics from the National Institute of Statistics and Geography (Inegi), in 2023, 19.5% of cars sold in Mexico were Chinese.

Business confidence in manufacturing grew 3.8% for the year.

Source: Mexico Industry