Tesla without Official Investment Registration in Mexico

The head of the Ministry of Economy, Raquel Buenrostro Sánchez, clarified that there has never been an official registration regarding Tesla's investment announcement in the country, thus dismissing that the suspension of the construction of its gigafactory will affect the arrival of Foreign Direct Investment (FDI).

Last week, Elon Musk, CEO of Tesla, mentioned that he would put on hold the construction of this plant, planned in Monterrey, Nuevo León, which would mean an investment of five billion dollars, awaiting the election results in the United States, scheduled for November 5th.

She explained that Tesla's electric car market is high-end, very particular, and small, while all automakers that are more popular or have higher production, such as Stellantis, Ford, or General Motors, continue building and advancing significantly.

She highlighted that investment registrations continue and reiterated the figure of 20 billion dollars registered, which is 50 percent higher than last year and the highest historical amount recorded in the last 20 years.

Regarding the transition process, ahead of the incoming government of Claudia Sheinbaum Pardo, she said it is going very well.

It should be noted that Raquel Buenrostro will be part of the federal cabinet of the president-elect, who appointed her as head of the Ministry of Public Administration.

And regarding the upcoming renegotiation of the United States-Mexico-Canada Agreement (USMCA), she said she does not foresee any issues, as it was the result of a negotiation between Donald Trump, a candidate for the U.S. presidency, and the still-president Andrés Manuel López Obrador.