San Luis Potosi attracts the third largest flow of automotive investment in Mexico

SAN LUIS POTOSI - In the first nine months of 2023, San Luis Potosí ranked as the third entity with the highest cumulative investment in the automotive industry in Mexico, according to the most recent report from Directorio Automotriz.

In the first nine months of 2023, San Luis Potosí ranked as the third entity with the highest cumulative investment in the automotive industry in Mexico, according to the most recent report from the Automotive Directory.

The state received US$1.6 billion, which represents 10.5% of the total amount registered during the aforementioned period.

The state was below Nuevo León, which registered an accumulation of US$6.1 billion, and Coahuila, with US$3.3 billion.

At a lower level, Guanajuato accumulated US$879 million, while Chihuahua received US$663.2 million.

Regarding third quarter figures, Coahuila registered a total of US$1.6 billion in 12 new projects, while Nuevo Leon reported eleven for an amount of US$480 million.

Tesla's investment in Santa Catarina is not yet included, the report clarifies, since the official amount of such investment has not been officially confirmed by Elon Musk's company, although it is between three and US$5 billion.

From January to September, San Luis Potosí incorporated ten investment projects related to the automotive industry, seven of which correspond to electromobility.

These projects led to the creation of 7,980 jobs, in addition to covering an extension of 2.95 million square meters in construction areas.

Meanwhile, in the third quarter of 2023, the companies Otscon, dedicated to the manufacture of safety parts (handbrake, brake/accelerator pedals), as well as BorgWarner, dedicated to the development of electric motors, were the main investors in the state.