MEXICO CITY : Tesla Inc's quest to build its first factory in Mexico reveals some of the shaky underpinnings of the country's rise as a nearshoring darling, with proximity to U.S. buyers weighed down by concerns over power supply and political interference.Mexican President Andres Manuel Lopez Obrador sai
MEXICO CITY : Tesla Inc's quest to build its first factory in Mexico reveals some of the shaky underpinnings of the country's rise as a nearshoring darling, with proximity to U.S. buyers weighed down by concerns over power supply and political interference.
Hidalgo, just outside Mexico City, is hundreds of miles from the border yet land and labor costs are lower. "The political issues right now are very important to take into consideration and this is a perfect example," said Claudio Rodriguez, a lawyer at Holland & Knight who specializes in energy."The Nuevo Leon/Hidalgo issue is 100 per cent political."It remains unclear exactly what Tesla's investment in Mexico will look like and what the company plans to produce in the country.
In another recently announced deal, Germany's BMW will invest near $870 million in the central state of San Luis Potosi to produce high-voltage batteries and electric cars.
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