The early success of Chinese brands in Mexico and Latin America offers a glimpse into the expansion strategy for these carmakers outside of the world’s...
Four years after the United States- Mexico -Canada trade agreement was adopted, Mexico and the US face a common concern: the prospect of cheap Chinese electric vehicles dominating a
“You have the perfect match,” said Felipe Munoz, an analyst at automotive intelligence firm Jato. “'We’re talking about 1.2 million units per year. … This still has growth potential. And so is attractive for any carmaker.” “They are applying more or less the same formula in these developing economies in the way that they are becoming the only choice to drive electric because the other ones are very expensive,” said Munoz. “The regulation and safety standards are not as difficult or complex in those economies.”
Duo Fu, vice president of battery markets for Rystad Energy, said that the tariff announcements have already started to shift carmakers' investment decisions away from the most developed markets.A man walks past a mural depicting Tesla CEO Elon Musk in Santa Catarina, Nuevo Leon state, Mexico on April 29, 2024. In the meantime, Baker said Chinese firms are unlikely to find a workaround to be in compliance with stringent automotive rules of origin in the existing trade agreement.
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