MEXICO CITY -- China's BAIC Motor Corp. has started selling its own cars imported from China in Mexico and may build a plant there, a senior company executive said.
The Chinese automaker aims to reach 5,000 sales a year in Mexico by 2018.
BAIC, the unit of Beijing Automotive Group Co., joins a host of international automakers who have set up operations in Mexico to access auto markets in the U.S. and Latin America. It sold its first car in Mexico on Thursday.
BAIC Vice President Wei Huacheng said in an interview Thursday the company also aimed to build an industrial plant in Mexico to produce cars as well as electric vehicles, but gave no details on any timeline or investment.
"Mexico ... is a very important part (of our) long-term vision," Wei said through a translator.
The Chinese company said it would initially sell a sedan and smaller-size SUV at six dealerships in Mexico, with three additional models planned to hit the market by the end of the year. It has tied up with local retailer Grupo Picacho.
BAIC is the only Chinese automaker in the Mexican market after Chinese state-owned carmaker FAW left in 2009.