Chinese Brands Conquering Mexico
Bryan Wu, EVP of Chirey Mexico and CEO of Omoda remarked that many Chinese brands arrived recently to Mexico. “This year Omoda arrived at Mexico because is an important big market and well connected to the USA and the Latin American Market.” Talking about sales, Wu emphasized that Mexico is a market over a million units sold every year.
Although, Chirey is considered a young brand with 25 years of history, they have become the number one exporter in China, exporting to eighty countries.
The Strategy Behind Starting a New Brand
Omoda is a new brand which technology will change rapidly with a strong identity. This Chinese new brand has an independent dealership network non-connected with the one of Chirey. This means that sales, marketing, customer service, etc. Is done independently. “We are about to release our store 58 which is under construction”.
The executive shared that in Mexico they developed a partnership with BBVA, but globally they have a global finance community.
In the short term, the executive mentioned that they are going to launch new models, like the C5, 0O, C3 among others during 2023-24 while opening new stores which will allow them to increase their market share.
In terms of inventory, the executive confessed that they were affected by the chip’s shortage during the pandemic. “We didn’t stop. We started to manufacture our own chips and developed join ventures with partners.”
Bryan remarked that Omoda’s strategy is not only focused on sale the cars, but to make history in Mexico, “We are here for the long term and ready to contribute to the ecosystem and to be responsible with the clients as a fashion brand.”
Is there Any Plan to Build a Factory?
“Mexico has a very good connection to the world, and we decided to have a production base in Mexico for IT activities, logistics, workshops and export to countries in the whole continent” Bryan added that some models could be done in Mexico in the future. “It will take time, but we believe in the success of the brand.”
Mexico Learning from China Electromobility
Bryan Wu shares that people have been talking about EV’s for more than 10 years, but no one can even predict that in China or Europe we could have 75% of the monthly market share. “
It is a fact that China has raised as a pioneer in electromobility. In this sense Bryan remarks that Chirey & Omoda are oriented in technology, passion, and a green vehicle platform portfolio which will be in the market in the short-term. However, the executive stated that if even the EV Mexican market is not that big, anyway they will do it.