By Mexico Industry
Did you know that the auto parts manufacturing sector is the main recipient of nearshoring investments? According to the National Auto Parts Industry (INA), it receives 37%, followed by the furniture industry with 18%, machinery and tools 15%, electronics-appliances 15%, high tech 8%, pharmaceutical 5%, and plastic with 1%. In addition, 40% of the total relocation of the plants in Mexico corresponds to Chinese origin, 20% to the United States, 11% to Japan, 9% to Germany, and 8% to South Korea.
“Regarding the investment announcements made in our country, which amount to US$15 billion in the Mexican automotive sector alone, we highlight the manufacture of batteries for electric cars, chassis, transmissions, automotive interiors, aluminum wheels, manufacturing of molds and tooling, electrical components, plastic injection parts, engine parts and line expansion,” stated Alberto Bustamante, general director of the INA.
Samsung Introduces First Customer Interaction Avatar
By Viviana Cervantes
Samsung has introduced a female avatar named Sam to help consumers in Mexico and Latin America learn more about the company’s devices, features and services. This avatar appears as the new expert in Samsung’s digital channels, social networks, and online store in the first quarter of 2023. The introduction of the female avatar is part of the attempt to make household appliances, screens, cell phones, medical equipment, and other Samsung products more accessible to the younger generation that demands personalized technological tools.
“These are the first steps for Sam, a lively and friendly character who, from now on, will play an important role in Samsung’s awareness campaigns with younger consumers, mainly Generation Z. Our goal is to strengthen the consistency of our brand presence in the region,” explained Claudia Contreras, CMO and senior marketing director of the mobile division at Samsung Electronics Mexico.
Nearshoring Brought more than US$19 Billion Investment Dollars to Mexico Last Year
The Mexican Association of Private Industrial Parks (AMPIP) indicated that Mexico attracted between 75 and 100 Canadian, Chinese, Korean, and Japanese companies last year.
Nearshoring is possibly the buzzword in the business world in Mexico. However, more than a fad, it is a reality since between February of last year and January 2023, 105 advertisements were detected as a result of this phenomenon. This represented an investment of over US$19 billion, according to Credit Suisse.
The financial institution tracked five factory facilities over the past two months for a total of US$1.1 billion. The majority of these funds came from the automotive sector which represents 78% of the total amount. There are other sectors that are also expanding operations such as electronics which accounted for 13%. According to the Swiss Investment Bank, the most relevant announcement was the San Luis Potosi BMW electric vehicle plant worth US$850 million.
