Friday, June 14, 2024

German electric car maker plans production plant in Mexico

A German electric car start-up has announced plans to launch a production plant in Mexico.

E.Go will pair up with “strategic and technology partner” Questum, a subsidiary of Monterrey-based industrial consortium Grupo Quimmco.

The companies will produce electric vehicles at the lower end of the market and seek to launch a series of small budget cars that would be affordable for the wider population. It also makes light electric buses and electric vans.

Executives hope the plant will not only serve the Mexican market, but also supply parts to other e.GO facilities in the Americas.

E.GO chairman Ali Vezvaei said Questum is the ideal partner to venture into the region. “With this agreement, e.GO has not only found the right industrial partners with strong access to the local market, but at the same time, through their long-established supply relationship with key industrial groups and fleets, creates an increasing order book that will underpin our growth aspirations in Mexico from the outset,” he said.

Questum CEO Manuel Valdes said e.GO is an important new pillar for the diversification of the business. “We have been developing the electromobility market within Mexico for many years, so when the idea of e.GO came across, we were immediately enthusiastic. We will be part of a true success story of German engineering and quality building environmentally friendly e-mobility.

This agreement with e.GO is an important milestone for us to further expand our business in the e-mobility and automotive sector,” he said.

The company has not specified where it plans to build the plant.

Sources: Reuters

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