The CEO of the world’s largest electric car manufacturer in Mexico gives more details of its investment in the country, which is worrying the US, in an interview with the Bloomberg agency
The world’s largest electric car manufacturer, BYD, is moving ahead with plans to open a factory in Mexico. In an interview with Bloomberg published Thursday night, the Chinese company’s CEO, Jorge Vallejo, said the plant will create 10,000 jobs and that they are targeting three states for its location.
The arrival of Chinese investment in Mexico, and more specifically of automakers, has generated tension between the governments of Mexico and the United States. The government of Jose Biden has escalated the trade war with the Asian giant, claiming that economic integration is a threat to national security, so it has reduced its Chinese imports and has offered incentives to companies to leave that country. Lawmakers in both parties in that country have expressed concern that China is using Mexico to triangulate its goods and access the US market. In December of last year, Treasury Secretary Janet Yellen visited Mexico to sign a bilateral agreement to monitor the origin of foreign investments.
For its part, BYD chose Mexico as the site for the global launch of its new hybrid pickup truck in May. The Chinese company has stated that it intends to produce in Mexico to supply the local market. If the plans shared this week to build a plant that will generate 10,000 jobs come to fruition, BYD would approach the size of factories that other automakers have in the country, such as the Korean KIA and the German Volkswagen. In 2022, the American Tesla, BYD’s main competitor, announced that it would build a gigafactory in the north of the country, but construction has not progressed.
Source: elpaís
