Mexico has quickly become a major market for Chinese auto makers. Last year, China was the leading car supplier to Mexico, exporting $4.6 billion worth of vehicles. Some Chinese electric vehicle makers – including Tesla-rival BYD – have been looking for a further foothold in North America by exploring factory sites in Mexican states Durango, Jalisco, and Nuevo Leon. For Mexico, the foreign investment is an economic boost and some local governments have offered incentives to Chinese companies exploring factory options. But U.S. officials worry this could be a part of a larger strategy from Chinese auto makers to skirt trade restrictions and enter the American market. Experts say this leaves Mexico in a difficult position of maintaining its crucial relationship with the U.S. without being overly friendly to Chinese investment. Now at the center of a trade war between two major powers, how has Mexico quietly become a hot spot for Chinese EV companies and will the country become a “backdoor” for these cars to drive into the U.S.?
Chapters:
1:32 How Chinese EVs are taking over Mexico
1:36 Chapter 1 – China’s entry to emerging markets
5:12 Chapter 2 – Mexico’s auto paradise
8:30 Chapter 3 – Highway to the future
Produced by: Merritt Enright
Edited by: Evan Lee Miller
Animation: Christina Locopo, Jason Reginato
Supervising Producer: Jeniece Pettitt
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How Chinese EVs Are Taking Over Mexico
Author: CNBC
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News post in August 17, 2024, 6:04 pm.
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