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German electric car start-up e.Go Mobile eyes Mexico entry

By Reuters

<p><body> <p><span class="caps">MEXICO</span> <span class="caps">CITY</span> (Reuters) – German electric car start-up e.Go Mobile said on Wednesday it plans to enter the Mexico market and launch a production plant in Latin America’s second-biggest economy.</p> <p>e.Go will enter Mexico with “strategic and technology partner” <span class="caps">QUESTUM</span>, a subsidiary of Monterrey-based industrial consortium Grupo Quimmco, the company said in a statement.</p> <p>e.Go is positioning itself at the lower end of the electric vehicles market, seeking to launch a series of small budget cars that would be affordable for the wider population. It also makes light electric buses and electric vans.</p> <p>Ali Vezvaei, chairman of the management board at e.GO, said the <span class="caps">QUESTUM</span> tie-up will allow it to use the Mexican business’s “long-established supply relationship with key industrial groups and fleets” in the country.</p> <p>The company did not specify where it aims to build its plant. Most foreign-owned car plants in Mexico are based in the center and north of the country, close to the U.S. border.</p> <p>Manuel Valdes, <span class="caps">QUESTUM</span>’s <span class="caps">CEO</span>, said he sees e.GO as a new pillar to help diversify the business, helping “to further expand our business in the e-mobility and automotive sector”.</p> <p/> <p> (Writing by Drazen Jorgic; editing by Emelia Sithole-Matarise)</p> </body></p>