VCI Global Signs Binding Term Sheet to Acquire Controlling 51% Stake in RTCAR Mexico, Secures Tier-1 Production Hub for Global Automotive Giant’s North American Expansion
Existing MOU with Global Automotive Giant Serves as Guaranteed Offtaker for EV and Hybrid Production; First Vehicle Delivery Expected in Q4 2026
KUALA LUMPUR, Malaysia, Dec. 29, 2025 (GLOBE NEWSWIRE) -- VCI Global Limited (NASDAQ: VCIG) (“VCI Global” or the “Company”) today announced that it has entered a legally binding term sheet to acquire a 51% controlling equity interest in RTCAR Comercializadora de Suministros Automotrices, S.A. de C.V. (“RTCAR Mexico”), a premier Mexico-based automotive assembly and manufacturing platform. The acquisition provides VCI Global with an immediately operational, scalable industrial base to support high-volume production for a leading global automotive original equipment manufacturer (OEM) expanding its footprint in North America.
Experienced Automotive Leadership and USMCA-Ready Operations
RTCAR Mexico is led by a seasoned management team with extensive experience across global automotive OEMs and Tier-1 suppliers, including senior leadership roles at Fortune 500 companies. The team brings deep expertise in North American manufacturing, supply chain optimization, and USMCA-compliant operations, positioning the platform to meet international standards for quality, cost, and delivery.
The North American automotive industry is a cornerstone of regional manufacturing and global supply chains. According to IMARC Group, the market was valued at approximately US$1.23 trillion in 2025 and is projected to grow at a compound annual growth rate (CAGR) of 5.4% through 2034, driven by sustained demand for SUVs, hybrid, and electrified vehicles, alongside ongoing innovation in automotive technologies.
Data from Statista shows that combined motor vehicle production across the United States, Mexico, and Canada reached approximately 16.1 million units in 2024, underscoring North America’s strategic importance in global vehicle supply chains. Mexico alone accounts for over 20% of the region’s production, reinforcing RTCAR Mexico’s strategic location for exports and regional delivery.
Strategic Positioning and Multi-Year Production Visibility
The automotive partner is a global OEM with a substantial sales and distribution presence. RTCAR Mexico will serve as a core manufacturing and assembly platform supporting the OEM’s North American market entry, with an initial focus on high-demand SUV and hybrid vehicle models. The existing Memorandum of Understanding (MOU) is expected to convert into a definitive offtake agreement in January 2026, ensuring guaranteed production volumes and providing early revenue visibility. The definitive agreement will formalize multi-year production volumes and commercial terms, establishing a long-term industrial growth pipeline for VCI Global.
“We are not simply acquiring manufacturing capacity; we are securing control of a proven automotive platform with an experienced team and a clear pathway to scaled production. 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, and diversifying VCI Global’s earnings base toward asset-backed, recurring industrial revenue. We anticipate the first vehicle delivery in Q4 2026, marking the beginning of a multi-year growth trajectory,” said Dato’ Victor Hoo, Group Executive Chairman and Chief Executive Officer of VCI Global.
About RTCAR Mexico
RTCAR Comercializadora de Suministros Automotrices, S.A. de C.V. (“RTCAR Mexico”) is a leading automotive manufacturing platform focused on delivering high-quality, cost-efficient solutions for global automotive OEMs and Tier-1 suppliers. Based in Mexico, the company leverages strategic North American operations to optimize supply chains and meet regional trade standards, including USMCA compliance. RTCAR Mexico combines advanced manufacturing processes with a commitment to operational excellence, positioning itself as a reliable partner in the automotive value chain.
About VCI Global Limited
VCI Global Limited is a cross-sector platform builder at the forefront of technology and financial architecture. The Company focuses on developing and scaling platforms across artificial intelligence, encrypted data infrastructure, digital treasury systems, and next-generation capital markets solutions.
By integrating technology innovation with financial ecosystems, VCI Global enables enterprises, governments, and institutions to capture opportunities in the evolving digital economy. The Company’s strategy is centered on building scalable platforms that deliver resilience, efficiency, and long-term value across multiple high-growth sectors.
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Cautionary Note Regarding Forward-Looking Statements
This press release contains forward-looking statements that are subject to various risks and uncertainties. Such statements include statements regarding the Company’s ability to grow its business and other statements that are not historical facts, including statements which may be accompanied by the words “intends,” “may,” “will,” “plans,” “expects,” “anticipates,” “projects,” “predicts,” “estimates,” “aims,” “believes,” “hopes,” “potential” or similar words. These forward-looking statements are based only on our current beliefs, expectations, and other future conditions. Because forward-looking statements relate to the future, they are subject to inherent uncertainties, risks, and changes in circumstances that are difficult to predict and many of which are outside of our control. Therefore, you should not rely on any of these forward-looking statements. Actual results could differ materially from those described in these forward-looking statements due to certain factors, including without limitation, the Company’s ability to achieve profitable operations, customer acceptance of new products, the effects of the spread of coronavirus (COVID-19) and future measures taken by authorities in the countries wherein the Company has supply chain partners, the demand for the Company’s products and the Company’s customers’ economic condition, the impact of competitive products and pricing, successfully managing and, general economic conditions and other risk factors detailed in the Company’s filings with the United States Securities and Exchange Commission (“SEC”). The forward-looking statements contained in this press release are made as of the date of this press release, and the Company does not undertake any responsibility to update the forward-looking statements in this release, except in accordance with applicable law.
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