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Billionaire and Bread Company to Make Mexico's Newest Exclusive Electric Vehicle

Feb 28, 2017 08:44 AM EST

Mexico is getting its own electric vehicle brand, courtesy of Mexican billionaire Carlos Slim Helu and the help of an unlikely partner: a bread giant.

According to Forbes, Slim is planning to set up a branch of his company, Giant Motors, in Mexico and will make an exclusive electric vehicle for the citizens. The vehicle's design will be a joint venture with Moldex, a subsidiary of the world's largest bread company, Grupo Bimbo. Grupo Bimbo was founded as early as 1954. It is known for Entenmann's, Thomas' English Muffins and the Sara Lee brand. 

In a report from Forbes Mexico, Elias Massri of Giant Motors said this electric vehicle will not only be assembled in the country but will also be customised to fit the needs of Mexicans, capturing the culture of the country.

Read Also: Answer to China's Pollution: Beijing Cuts Coal Use by 30 Percent in 2017

Giant Motors hopes to launch the prototype of the new EV by 2018 in the form of an electric taxi. The company said that running the prototype in Mexico City, which has a large population, will effectively test its efficiency.

Should the government cooperate, the company said they can generate enough funding to promote it as a replacement for normal taxis.

In fact, according to Inverse, Giant Motors even announced a $215-million partnership with JAC Motors from China to manufacture these vehicles. JAC Motors is a well-known auto manufacturer in Mexico since it entered the country in 2008.

The new project is an efficient way to slowly introduce the use of renewable energy in the country without immediately replacing fossil fuels. If this pushes through, Mexico will have its own customized electric vehicle that will drastically lessen pollution.

Read Also: Electric Vehicles to Disrupt Oil Market Faster Than Anticipated, Experts Explain  

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