MEXICO CITY (Reuters) -- China's BAIC Motor Corp. started selling cars imported from China in Mexico and aims to reach 5,000 sales a year by 2018, a senior company executive said.
BAIC, the Hong Kong-listed unit of Beijing Automotive Group Co., joins a host of international automakers who have set up operations in Mexico to access markets in the United States and Latin America. It sold its first car in Mexico last month.
Company Vice President Wei Huacheng said in an interview that the company also aims to build an assembly plant in Mexico to produce gasoline-powered cars and electric vehicles, but offered no details.
"Mexico ... is a very important part (of our) long-term vision," Wei said.
The company said it initially will sell a sedan and a small crossover at six dealerships in Mexico, with three additional models to be introduced by the end of the year. BAIC has formed a partnership with local retailer Grupo Picacho.
BAIC is the only Chinese automaker marketing vehicles in Mexico since state-owned carmaker FAW left in 2009.
