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Need to balance AI globally
July 25, 2024Earlier In March 2024 a leading automaker Stellantis announced a large investment of Euro 5.6 million in Brazil over the next five years to launch new powertrain diversification, domestic production of electric vehicles and hybrids, connected cars, and new mobility models.
Stellantis made this structured decision in light of the fact that Brazil offers double-digit growth. In addition, even Chinese OEMs continue to strengthen their presence in Brazil and across Latin America building local factories and launching new models across multiple segments such as cars, SUVs, and pickups will all register robust growth.
Similarly, Mexico too, being part of the USMCA trade agreement, and a key ally and asset to the US-based high-tech manufacturing of semiconductors and EVs is poised to become the 5th largest global vehicle maker employing one million professionals. Besides, Mexico is one of the largest producers of Auto parts. Major U.S.-based conglomerates have made significant investments in Mexico, enhancing its cost-effectiveness and competitiveness in the global market space.
Finally, both South and Central American markets underpin robust performance over the years to come.
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