MND_BUSINESS
Mexican auto parts industry unshaken by Tesla gigafactory news
"This has more to do with the global electric vehicles market falling below projections ... Tesla is seeing its market shrink," said the chief of the Mexican Auto Dealers Association.
Chinese investment in Mexico has risen fast, but still lags behind...
Over half of total Chinese FDI in Mexico since 2006 has been made since 2020, but according to official data, it's still a fraction of U.S. and European FDI.
Peso slides after Tesla setback and inflation spike
New inflation data, a reform bill and Tesla pausing a Mexico gigafactory may explain a 1.5% drop overnight in the peso-USD rate Wednesday.
Airbus Helicopters and ITP Aero expanding operations in Querétaro
Airbus Helicopters and ITP Aero signed expansion agreements this week with Querétaro officials, adding a total of 800 new jobs in the state.
Inflation spikes more than expected in the first half of July
Mexican households are feeling the inflationary pain, with the prices of fruits and vegetables up over 25% compared to the same period last year.
Musk says Tesla gigafactory in Mexico ‘paused’ because of potential Trump tariffs
The multibillion-dollar electric vehicle factory was originally announced in March 2023, but Musk says it's on hold until after the U.S. presidential election.
UPS to buy Mexican delivery firm Estafeta ‘as the shift to nearshoring continues’
UPS CEO Carol Tomé noted that "Mexico's role in global trade is growing" in a statement about the acquisition, which is expected to be finalized this year.
ArcelorMittal steelworks strike in Michoacán ends after 55 days
Union workers began blocking the steel plant on May 28 due to disagreements over profit-sharing payments.
Finance minister: Mexico ‘must produce more’ amid growing trade deficit with China
Mexico is also considering a change to its foreign investment policy that could limit Chinese investment in some sectors.
Siemens inaugurates new plant in Querétaro with a focus on decarbonization
The new plant comes with an investment of 940 million pesos (US $52.4 million) over the next five years.
A cloudy economic forecast? Mexico shows 0% monthly growth in June
Earlier this week, the International Monetary Fund slightly lowered its forecast for economic growth in both Mexico and the United States in 2024.
5 questions about Mexico’s semiconductor industry: An interview with Pedro Casas
Pedro Casas of AmCham sees a clear alignment between the U.S. and Mexico that will transform the region's semiconductor supply chain.
New US initiative could ‘turbocharge’ Mexico’s semiconductor industry
The Western Hemisphere Semiconductor Initiative aims to turn Mexico and other Latin American nations into semiconductor assembly hubs.
Shanghai-based USI opens new manufacturing plant in Tonalá, Jalisco
Global electronics company Universal Scientific Industrial has opened a new US $82 million plant in the Guadalajara metro area.
Mexican ag exports up more than 7% over 2023
Two agro-industrial products — beer and agave spirits — were the biggest money-makers this year.
Mexico’s foreign tourism revenue up 7.7% in May
The inflow of foreign currency throughout the first five months of the year reached nearly US $15 billion.
