1/11/2024 - Technology and Innovation


By FinGurú


Just a year ago, Mexican President Andrés Manuel López Obrador, after keeping conversations with Elon Musk, executive director of Tesla, Inc., one of the world's leading electric car manufacturers, announced that"There is an agreement, there will be an investment and the Tesla factory in Mexico will be in Monterrey with the commitment to solve the problem of water shortages."In those days, Tesla's projects involved installing a battery factory and an automotive terminal, however, over the past year, different circumstances delayed and modified the initial plans.Originally the idea was to install a plant in the state of Nova León, particularly in Monterrey, a state that faces restrictions on water supply, a very important input that should be taken into account for the radiation of these industries.This difficulty, added to the Mexican government's refusal to extend tax exemptions, similar to those offered by the United States, for the manufacture of batteries and semiconductors, canceled the design of one of the factories.Already entering the last quarter of last year, precisely in October 2023, Elon Musk was concerned about the impact that high interest rates would have on car buyers, which led him to doubt about his plans to install a factory in Mexico.It is worth pointing out that since the first conversations between the Mexican president and the technological magnate, the state has approved incentives for hundreds of millions of dollars for the construction of infrastructure on roads and water works to improve the conditions of the place where the plant would obviously be installed, the expectation of attracting investments, which in several stages could reach the 10,000 dollars were extremely encouraging.The information today indicates that the plant installation is suspended.There are rumors that Elon Musk would be in conversations with President Milei to install both plants, lithium batteries and the state-of-the-art automotive terminal for cars Tesla in Argentina.Something that could mean a push to the sharp Argentine economy, which has a lot to offer in natural resources and in human capital, a bit flogs in history and legal certainty.It will have to be seen that it weighs more in the strategy of the Midas King of our time, if the risk that the changes proposed by Milei are an expression of desire or the advertising impulse that can give the entrepreneur of the Argentine reconstruction.It is likely that before the conquest of Mars, so announced by Elon, landing on more hostile lands for long-term investment.Everything is possible.It's Elon and Milei.JDS appropriations

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