Solarever to invest one billion pesos in Mexico

Solarever Electric Vehicles (SEV) announced yesterday its plan to build an industrial plant in Mexico in the near future. The solar panel manufacturer estimates an investment of approximately one billion pesos over the next four years and the creation of more than three thousand direct jobs.

While the subsidiary of Solarever did not disclose further details about the new industrial building, CEO and founder Simon Zhao stated that the idea of the new plant is to not only generate more manufacturing at a national level but also bring more technology and innovation related to the generation of clean electric energy to the country.

Currently, according to SiiLA Market Analytics data, on average, only 4% of the square footage in Class A and B industrial properties in 11 real estate markets monitored by SiiLA (Aguascalientes, Mexico City, Ciudad Juarez, Guadalajara, Guanajuato, Mexicali, Monterrey, Queretaro, Saltillo, San Luis Potosi, and Tijuana) are environmentally certified.

Solarever, a company founded in 2012, is dedicated to reducing unsustainable energy use and offering alternative and environmentally friendly energy sources. It currently has three plants in Mexico and is present in Chihuahua, Mexico City, Mexico State, Guanajuato, Jalisco, Nuevo Leon, Veracruz, and Yucatan.

The announcement of the new plant was made within the framework of the alliance between SEV and BBVA Mexico to provide differentiated financing for the electric vehicle market in a joint effort to promote more sustainable mobility nationwide. This is a financial scheme for individuals and companies through which BBVA and SEV customers can access loans, leases, floor plans, and insurance.

According to Victor Rojas, Director of Automotive Banking at BBVA Mexico, the agreement is not limited to individuals seeking to acquire an electric vehicle but is also a benefit for customers who wish to incorporate SEV solar panels in their offices or homes.

In this regard, the director of SEV, Simon Zhao, said that the company is wholly Mexican and was born as a solution to mobility in the domestic market. "SEV, the youngest business line of Grupo Solarever, will be the brand that will launch the 'Electric for All' program, proving to Mexican consumers that energy autonomy at home, business, or car can be achieved from the year 2023," explained Zhao.

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