Carlos Slim teams up with Chinese to focus on Mexican market

3/27/2017 Financial Times

CarlosSlimCarlos Slim’s Giant Motors will begin manufacturing cars in Mexico in a joint venture with China’s JAC Motors as they focus on the Latin market.

This comes as some car makers have fallen foul of Donald Trump’s “America first” policies because they manufacture in the low-cost nation.

Two Chinese-designed and largely Chinese-manufactured sport utility vehicles will be launched on Tuesday as the new venture aims to cash in on Mexico’s booming domestic car market.

Giant Motors, the Mexican vehicle assembler backed by the billionaire investor, will focus on domestic sales and exports to the south with the new venture, instead of looking north to the US.

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