Saturday, June 22, 2024

US $200 million investment in lithium-ion battery production in Nuevo León

A Mexican affiliate of a U.S. company has announced a US $200 million investment to produce lithium-ion batteries in Nuevo León and distribute electric vehicles across the country.

Cenntro Automotive México, an importer and distributor for the New Jersey-based electric vehicle manufacturer Cenntro Electric Group, will make lithium-ion batteries at a plant in the OMA VYNMSA Aeroindustrial Park at the Monterrey International Airport.

Construction of the 10,436-square-meter state-of-the-art facility began last year, and it is expected to begin operations in the second quarter of 2023.

City Porter vehicle by Cenntro Automotive
Cenntro Electric Group manufacturers commercial electric vehicles targeted at governments and businesses. (Photo: courtesy)

Cenntro Automotive México president Andrés Lankenau said that the US $200 million investment will be spread over three years. The money will be spent on the battery manufacturing facility and to help the company expand its presence in Mexico, he said.

Lankenau also spoke about Cenntro Automotive México’s growing vehicle distribution business.

“Companies in Mexico are aware of the environment and committed to renewing their fleets with electric vehicles. Cenntro is quickly becoming the [leading] provider of the highest quality commercial vehicles … in Mexico,” he said.

Cenntro Electric Group makes and sells a range of small and large EVs that have been distributed to more than 20 countries around the world. Their vehicles are targeted for sale to businesses and governments.

Cenntro Automotive México could be joined in Nuevo León by Tesla, which is reportedly set to announce its first vehicle plant in Mexico this month.

The company’s CEO, Elon Musk, traveled to the northern border state last October and met with Governor Samuel García and other officials.

With reports from El Economista, Mexico Industry and Milenio

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