SAIC Group's MG to Build Latin America Hub in Mexico, Plans to Introduce IM

TapTechNews August 9th news, according to Interface News, MG Motor, a subsidiary of SAIC Group, announced on the 7th that it plans to establish a Latin America hub in Mexico, including a car factory and a research and development center.

Zhang Wei, the head of MG's business in Mexico, said that not only will cars be produced locally, but also market intelligence specifically for Latin America will be generated. In addition, the company also plans to introduce the high-end brand IM (ZhiJi) to Mexico.

According to SAIC Group's plan, in 2024, ZhiJi L7 and LS7 will enter the Mexican, Middle Eastern, South American and Southeast Asian markets; in 2025, LS6 and L6 will enter the global market.

Before this, Changan Automobile and Zeekr Automobile have already introduced several models into the Mexican market. Combining TapTechNews' previous reports, in July this year, six products of Changan's three brands, Deepal EV (S07), Avatr (11, 12), and Changan Qiyuan (E07, A05, Q05), made their first appearance locally. Also in July, two models of Zeekr 001 and Zeekr X have also been on sale in the Mexican market.

According to the data of the China Association of Automobile Manufacturers, Chinese automakers exported 2.793 million cars overseas in the first half of this year, an increase of 31% year-on-year. The top five regions in China's total vehicle exports in the first half of this year are Russia (478,500 vehicles), Mexico (226,400 vehicles), Brazil (171,100 vehicles), the United Arab Emirates (142,000 vehicles), and Belgium (138,900 vehicles), and the top five markets for new energy vehicle exports are Brazil, Belgium and the United Kingdom, Thailand and the Philippines.