Mexico’s president responded on Wednesday to Elon Musk’s remarks about Tesla reconsidering its investment in a new gigafactory in Mexico, calling them “not serious.” President Andres Manuel Lopez Obrador emphasised that such comments are often fueled by campaign rhetoric, noting the volatility of statements during the lead-up to the U.S. presidential election in November.
Lopez Obrador disputed Musk’s suggestion that heavy tariffs on Mexican-made cars under a potential future Trump administration would make investments in Mexico unfeasible. He argued that American consumers benefit significantly from vehicles imported from Mexico, saving between $10,000 and $15,000 per vehicle due to lower production costs.
Regarding Tesla’s plans specifically, the government of Nuevo Leon, the intended location for the gigafactory, affirmed its readiness for Tesla’s arrival. They confirmed ongoing efforts to develop necessary infrastructure, stating they had not been formally informed of any cancellation of Tesla’s investment plans.
In his daily press briefing, Lopez Obrador criticised what he described as speculative behavior by some companies, suggesting they prioritise financial markets over actual production. He concluded by indicating confidence in Mexico’s appeal as an investment destination, despite transient uncertainties related to electoral rhetoric.