Billionaire investor is to manufacture EVs in Mexico as part of a JV with food giant Groupo Bimbo
Mexican billionaire Carlos Slim Helu, the fourth richest man in the world, is to design and build an EV with food manufacturing giant Groupo Bimbo. Assembled in Mexico, it is expected to be for both the domestic and export markets.
Giant Motors, controlled by Slim’s financial services conglomerate Inbursa, is already gearing up to design and manufacture the vehicle, which has an anticipated roll-out date of 2018. A prototype is expected to be tested later this year.
The first of the cars are expected to be used as taxis in Mexico City, which often has very polluted air.
“We are developing a new Mexican electric vehicle that will not only be assembled [in Mexico], but also designed and modeled to meet the needs of Mexican consumers,” Elías Massri, the Giant Motors CEO for Latin America, told Forbes Mexico.
The news follows an agreement reached between Giant and Chinese automaker JAC Motors to build new vehicles in the state of Hidalgo. It is not clear if JAC will be providing any technology for EVs, but the company has found success in China with its JAC J3 EV.