BMW could help Mexico become an EV export hub

BMW’s plan to invest $865 million to increase its ability to make electric vehicles in Mexico suggests that the company may be focusing more on the U.S. market.

The German automaker will spend this money over the next four years to get ready to make the “Neue Klasse” EV range at its San Luis Potosi plant starting in 2027.

The Mexican plant currently makes three models with internal combustion engines that are sold in 74 markets around the world. Harald Gottsche, president and CEO of BMW Group Plant San Luis Potos, says that the plant’s EV production would also be focused on sales outside of Mexico.

“Our most important markets are Europe and the U.S.,” he says. “Because San Luis Potosi is close to the U.S., 60% of our production goes there.” “So free trade is very important now and will be for our business model in the future.”