The Chinese automaker BAIC has just started to sell cars in Mexico and it has further expansion plans in the region.
The BAIC Group, one of the largest Chinese automakers, is planning to expand its operation beyond local borders and the South American region offers some great potential. Furthermore, it will allow the company to come closer to the US market for a potential entering move later on. Therefore, BAIC has started with Mexico, where it began selling imported cars from China last week, setting a delivery-target of reaching 5,000 units by 2018.
The automaker is determined not to limit itself only to dealerships, but aiming also to build a plant there to produce cars as well as electric vehicles, BAIC Vice President Wei Huacheng revealed in an interview, quoted by Reuters. “Mexico is a very important part of our long-term vision,” he said, however without providing further details of such an investment or a time-frame. BAIC would initially sell a sedan and smaller-size SUV at six dealerships in Mexico, with three additional models planned to hit the market by the end of the year. BAIC, which made a partnership with a local retailer, is the only Chinese automaker in Mexico.
The automaker is considering to tap into the US market and into some European ones as well, through its Beijing Electric Vehicle division, a brand focused on building electric cars which set a target of selling as many as 700,000 battery-powered units annually by 2020.