Mexico will receive investment for car battery production in 2023

MEXICO – By the fourth quarter of next year, production of electric car batteries could begin in Mexico with Korean, Chinese and U.S. investments, informed Marcelo Ebrard, minister of Foreign Affairs (SRE).

"We have already prepared for 2023 investment from South Korean and Chinese companies and a program agreed with the United States to start producing batteries in Mexico, hopefully in the third or fourth quarter of next year," explained Ebrard.

He commented that for now it is not possible to give figures about investments because it depends on the companies' decisions.

Ebrard commented that for now it is not possible to give figures about investments because it depends on the companies' decisions.

He recalled that at the 27th Conference of the Parties to the United Nations Framework Convention on Climate Change (COP27), Mexico committed to an investment -with the support of the United States- of US$48 billion to increase the generation of clean energy and accelerate electromobility.

The minister indicated that Honduras is a country interested in joining the Pacific Alliance, while talks are underway with South Korea regarding a possible Free Trade Agreement with Mexico, but he did not specify the dates.