China’s rapid expansion into major Latin American markets is literally rolling right along. The latest newcomer is Chinese automaker BAIC (pronounced Bike) which has just begun selling its latest models in Mexico City.
CCTV America’s Franc Contreras reports.
Chinese automaker BAIC plans to enter Mexican marketUp-and-coming car automaker BAIC sets their eyes for the Mexican market. CCTV America's Franc Contreras reported.
The Beijing Automotive Industry Holding Company, or BAIC, views Mexico among the world’s most highly competitive and lucrative auto markets.
Analysts say the arrival of China’s fourth-largest manufacturer of vehicles will intensify that already steep competition.
BAIC Mexico’s 38-year-old General Director, Nanhua Yang, comes from China’s central Henan province, birthplace of Kung Fu and a cradle of Chinese civilization.
The first challenge is capturing the key market of young, upwardly mobile Mexicans. 60 percent of Mexico’s population is under 35.
Along with other Chinese companies, BAIC Automotive is working to convince them that “made in China” now means high-quality.
Up until just a few years ago, China and Mexico considered themselves rivals in the world of business, but a series of diplomatic and private sector meetings has helped unify this market and now China is Mexico’s second most important trading partner.
BAIC Mexico is partnering with the Mexican-owned Picacho Group, which has been selling autos – including Jaguar, Ford and Land Rover — in Mexico for 30 years.
BAIC Mexico is positioning itself as a leading producer of affordable electric cars. And in 2017, it plans to assemble vehicles here. With a goal of selling thousands of cars the first year.