Wednesday, November 29, 2023

Energy firm forays into electric auto manufacturing

A Mexican electrical goods and energy company is now also an automaker: Grupo IUSA officially launched a range of four electric and hybrid vehicles on Wednesday at the Latin American Mobility Summit in Mexico City.

The vehicles are a compact car, an SUV, a hybrid-electric van and a passenger bus. Sales director Agustín Ortega said that all the vehicles are manufactured at IUSA’s plant in Jocotitlán, a México state municipality about 120 kilometers northwest of Mexico City.

“The plant has the capacity to manufacture up to 20 vehicles a week, depending on the model. They’re 100% Mexican designs and we want to expand the business, depending on demand,” he said.

Ortega said that IUSA began its automotive project a year ago with the aim of capturing a segment of the growing electric vehicle market. The models presented on Wednesday are tailored to the needs of the market, he said.

Called IIK, the compact car has a range of 440 kilometers before it needs recharging while the SUV, called ATL, has a 310-kilometer range. The hybrid van can travel up to 400 kilometers with a full tank of fuel and a fully-charged battery, while the 40-seat 100% electric bus has a 200-kilometer range.

IUSA vice president Juan Carlos Peralta told the news agency NotiPress that the company was motivated to move into the electrical vehicle sector to help reduce air pollution in Mexico and the related health problems it causes.

“[We are] presenting our family of vehicles to attend to the problem of … pollution [caused by] vehicles with internal combustion engines. This is our solution to the problem,” he said.

Established in 1939, IUSA produces a range of energy-related products including solar panels at a factory next to the México state automotive plant.

Source: El Financiero (sp), NotiPress (sp) 

Have something to say? Paid Subscribers get all access to make & read comments.

Krispy Kreme donuts

Got 1 min? Police seize suspicious Krispy Kreme doughnuts

The hardest part of the police operation in Puebla may have been resisting the temptation to eat the evidence.

OECD improves economic growth forecast for Mexico this year

The organization slightly increased their GDP growth prediction for the country for 2023, citing a strong labor market and increased investments.

Over 400 companies looking to invest in manufacturing in Mexico

This figure was cited by the president of an industrial park association and developer, who described nearshoring as a "unique opportunity" for Mexico.