VCI Global (NASDAQ: VCIG) to acquire 51% stake in Mexico automotive manufacturer

VCI Global Limited (VCIG) announced it has entered a binding term sheet to acquire a 51% controlling equity interest in RTCAR Commercialized de Subministers Automotives, S.A. de C.V., a Mexico-based automotive assembly and manufacturing platform.

The acquisition provides VCI Global with an operational industrial base to support production for a global automotive original equipment manufacturer expanding in North America. RTCAR Mexico will serve as a manufacturing platform supporting the OEM’s North American market entry, focusing on SUV and hybrid vehicle models.

An existing Memorandum of Understanding with the automotive partner is expected to convert into a definitive offtake agreement in January 2026, providing guaranteed production volumes. The company anticipates first vehicle delivery in Q4 2026.

“By acquiring a controlling stake in RTCAR Mexico, we are establishing a strategic foothold in the North American automotive supply chain, accelerating our transition into industrial-scale EV and SUV manufacturing,” said Dato’ Victor Hoo, Group Executive Chairman and Chief Executive Officer of VCI Global.

RTCAR Mexico operates under USMCA-compliant operations and is led by a management team with experience across global automotive OEMs and Tier-1 suppliers. The platform is positioned to meet international standards for quality, cost, and delivery in the North American automotive market.