Mexico In Talks With Top Carmakers To Make Electric Vehicles

• Mexico is gearing up to build several manufacturing hubs for electric vehicles across the country, and is in talks with some of the world's top carmakers Foreign Minister, Marcelo Ebrard told Reuters.
• The shocks of the pandemic and two years of supply chain chaos are colliding with a once-in-a-century shift of the industry's fundamental technology as combustion vehicles give way to electric ones.
• "The Mexican auto industry, in comparison to the United States, has so many advantages," Ebrard said, pointing to its geography, existing infrastructure, and expertise advantages.
• His comments come as Tesla is said to be looking to build a plant in Mexico and BMW is investing 800 million euros ($866 million) in the central Mexican state of San Luis Potosi to produce high-voltage batteries and fully electric cars.
• Mexico is keen to capitalize on the global shift to electric vehicles. Ebrard said Mexico was focused on ensuring it had the right conditions to persuade foreign companies to invest.
• In addition to electric vehicles, Ebrard said he was also keen to attract more semiconductor and battery businesses - and build out transport infrastructure in the port of Coatzacoalcos, in the Gulf of Mexico.
• This development has the ability to provide increased employment for Mexico and boost economic output in coming years especially as the country seeks to recover from the blows of COVID-19.

(Source: Reuters)