On February 26, South Korea's ** "Finance Today" published an article saying that Tesla CEO Elon Musk called on Chinese auto parts manufacturers to relocate to Mexico.
Musk is recently building a new factory in Monterrey, Nuevo León, Mexico, and multiple sources say Chinese auto parts manufacturers are rapidly pouring into the region.
The Chinese companies, invited by Musk, are looking to build a new factory outside Monterrey, the sources added.
Musk's idea is to replicate a local ** chain similar to Tesla's Shanghai factory in Mexico, so as to bring these Chinese companies to Mexico.
As a result, these Chinese companies are expected to provide spare parts for Tesla's new electric vehicle factory in Monterrey.
Bloomberg reported that the move has caused concern not only among U.S. electric vehicle manufacturers, but also in the United States.
Under the U.S. Inflation Reduction Act, electric vehicles assembled in Mexico can receive up to $7,500 in U.S. excise tax credits. In addition, Mexico is attracting attention as an EV production base due to its existing advantages such as relatively low labor costs and easy access to the U.S. market.
According to Mexico's National Association of Automotive Parts Industries (INA), Chinese auto parts manufactured in Mexico and exported to the United States were worth $1.1 billion last year.
Last year, there were 33 Chinese auto parts companies registered in Mexico, and 18 of them exported parts to the United States.
Especially after the outbreak of the "** war" during the former ** Trump's tenure, Chinese companies turned their attention to Mexico.
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