After Elon Musk, owner of Tesla, mentioned on Tuesday that he will pause investment in Mexico while awaiting the results of the U.S. elections, analysts warned that the suspension of the construction of Tesla's gigafactory in Nuevo León could lead to a halt in other investment projects in Mexico.
Gabriela Siller Pagaza, Director of Economic and Financial Analysis at Grupo Financiero Base, stated that Elon Musk's comments on the uncertainty of investing in Mexico might reflect the opinions of other global investors regarding the potential return of Trump to the U.S. presidency, which could result in lower foreign direct investment in the country over the coming years.
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The recent news about Tesla could delay or, in some cases, pause new investment announcements, considered Janneth Quiroz Zamora, Director of Economic, Exchange, and Stock Market Analysis at Grupo Financiero Monex. She explained that this plant was seen as a key factor in nearshoring.
WAITING FOR TESLA
The installation of Tesla in Nuevo León continues as planned with the government of Nuevo León until a final decision is made by the Texas-based company, stated Government Secretary Javier Navarro. He clarified that they respect the economic and strategic considerations the company might take regarding the investment plan.