Billionaire Carlos Slim And Mexico’s Bread Giant Bimbo To Launch A Made-In-Mexico Electric Vehicle

2/7/2017 Forbes

bimboAt a time when American auto giants are under pressure to bring back production from Mexico to the U.S., Mexican billionaire Carlos Slim Helu is planning an expansion of his modest presence in Mexico’s auto industry. Giant Motors, controlled by Slim’s financial services conglomerate, Inbursa, is in the process of manufacturing a made-in-Mexico electric vehicle with plans to launch it commercially next year, Forbes Mexico reported.

“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, Giant Motors’ CEO for Latin America told Forbes Mexico.

The vehicle, which will be designed by Giant Motors, will be manufactured in a joint venture with Moldex, a subsidiary of Grupo Bimbo, a Mexican-based multinational which is the world’s largest bread maker.

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