LatinNews Daily - 06 February 2023

In brief: BMW invests in Mexico as part of EV drive

*German carmaker BMW has announced it is investing €800m (US$861.3m) in its plant in Mexico’s state of San Luis Potosí to produce electric vehicles (EVs). The investment, which BMW states will create around 1,000 new jobs, will prepare the plant to produce BMW’s Neue Klasse vehicles starting from 2027. “We are systematically gearing our production network towards electromobility,” said Milan Nedeljković, a member of BMW’s management board for production, at an event in San Luis Potosí which Mexico’s President Andrés Manuel López Obrador and San Luis Potosí governor Ricardo Gallardo Cardona attended. In a statement, BMW said that EUR500m would go towards constructing an 85,000-square-metre local high-voltage battery assembly plant at which over 500 new employees will manufacture EV batteries. Mexico’s Foreign Minister Marcelo Ebrard, a big advocate for EVs, recently told Reuters that carmakers including Audi, General Motors, Fiat Chrysler and Tesla had all expressed interest in producing EVs in Mexico. In October 2022, Reuters reported that two sources close to the matter had said that Tesla was looking to build a plant in Mexico’s Nuevo León state, although this has not yet been confirmed officially.

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