Chinese firms to invest nearly $1 billion in northern Mexico -state officials
© Reuters. FILE PHOTO: The logo of car manufacturer Tesla is seen at a dealership in London, Britain, May 14, 2021. REUTERS/Matthew Childs/File Photo and a Chinese technology company will invest nearly a billion dollars in the northern Mexican state of Nuevo Leon where the automaker is planning a new factory, Nuevo Leon Governor Samuel Garcia said during a trip to Shanghai on Wednesday.
The planned investments include $700 million from Ningbo Tuopu Group and $260 million from Shenzhen H&T Intelligent Control Co., a Nuevo Leon representative said. Tesla announced in March it would build a large plant in the state, where it already has suppliers, in what Mexican officials described as a more than $5 billion investment.Speaking in a video filmed at Tesla's Shanghai factory, Garcia said Ningbo Tuopu Group was looking to begin production by the end of the year in Nuevo Leon.Ningbo Tuopu Group develops shock absorption products and other auto parts.
"We're very happy because everything seems to indicate that the Nuevo Leon site will be twice as big, at least, as the one in Austin," Garcia said, noting that Tesla already sources batteries, software, computers and other parts from Nuevo Leon.We encourage you to use comments to engage with other users, share your perspective and ask questions of authors and each other.
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