BTN News: Tesla’s CEO, Elon Musk, recently decided to delay building a new gigafactory in Nuevo León, Mexico. This decision is due to the upcoming U.S. presidential elections in November. Musk was influenced by statements from Donald Trump. Trump warned that if he wins, he will impose high tariffs on vehicles made in Mexico.
The Mexican government quickly addressed this issue to calm investors. Raquel Buenrostro, Mexico’s Secretary of Economy, said there are no official records of Tesla’s investment plans in the country. She explained that Tesla has not made any formal investments or followed the required legal steps under Mexican foreign investment laws.
Buenrostro also said she doubts Trump’s tariff threats will become real. She noted that Trump was recently happy with the USMCA trade agreement between the U.S., Mexico, and Canada. This agreement makes it less likely that such tariffs will happen.
Despite Musk’s announcement, Buenrostro pointed out that foreign investment in Mexico is still strong. She mentioned that the first quarter of the year saw $20 billion in foreign investment. This is much more than what was seen in the previous year.
Mexico’s President-elect, Claudia Sheinbaum, also questioned Musk’s reasons for the delay. She noticed that there has been little progress on the project since it was first announced. She suggested that other reasons might be affecting Tesla’s decision. Current President Andrés Manuel López Obrador told investors not to worry too much about campaign statements. He implied that things could change once the elections are over and new governments take charge.
In addition to the gigafactory delay, Musk has been involved in other controversies. He recently shared a fake video of Vice President Kamala Harris without saying it was false. This action drew criticism because it violated X’s rules against sharing misleading content.
It was also reported that Musk plans to donate up to $45 million each month to a group supporting Donald Trump. This has led people to think that Trump might offer Musk a position in his cabinet if he wins. Musk’s support for Trump was highlighted after an assassination attempt on Trump on July 14. Musk tweeted in admiration of Trump’s strength.
As the political scene changes, the future of Tesla’s gigafactory in Mexico remains unclear. Mexican officials and business leaders are watching the U.S. elections closely. They know that the results could greatly affect investments and trade relations between the two countries.
The delay of Tesla’s gigafactory has raised many questions. Investors and analysts are eager to see what will happen after the U.S. elections. Will Tesla go ahead with its plans in Mexico? Or will other factors come into play? The decisions made in the coming months will be crucial for the future of Tesla and its relationship with Mexico.
For now, the situation is in a state of uncertainty. The outcome of the U.S. presidential election will have a significant impact on Tesla’s plans. Mexican officials are prepared to adapt to whatever changes come. They remain optimistic about the future of foreign investment in the country.
In summary, Elon Musk’s decision to delay Tesla’s gigafactory in Mexico is tied to the U.S. elections. Statements from Donald Trump about potential tariffs have caused concern. However, Mexican officials are not too worried about these threats. They continue to see strong investment in their country. The next few months will be important in determining the direction of Tesla’s plans and the overall relationship between the U.S. and Mexico.
