Mexican President Andrés Manuel López Obrador has downplayed Tesla CEO Elon Musk’s recent comments about pausing plans for a new gigafactory in Mexico. Musk cited possible heavy tariffs on cars made in Mexico by a future Trump administration as a reason to reconsider the investment. López Obrador dismissed Musk’s concerns as campaign rhetoric and emphasized the economic benefits of manufacturing in Mexico.
During a press conference, López Obrador claimed that Musk’s comments were “not serious” and attributed them to the heightened rhetoric typical of US presidential campaigns. “During the campaigns there is a lot of passion, a lot of rhetoric, there is too much talk. Once the elections are over, the tone should change,” he said. He expressed confidence that the tone would change after the election and criticized the feasibility of moving vehicle production entirely to the United States due to higher production costs. The president highlighted that American consumers save significantly when purchasing vehicles manufactured in Mexico, with savings ranging between $10,000 and $15,000 per car.
López Obrador also suggested that companies like Tesla often engage in speculative activities to boost their stock prices rather than focusing solely on production. “These companies often do not produce, but rather speculate. They publish news and do very well on the stock markets, they increase the price of their shares and production takes a backseat,” he observed. He assured that the Mexican state of Nuevo León, where Tesla’s planned gigafactory will be located, has been diligently preparing the necessary infrastructure and has not received any formal notification of cancellation from Tesla.
The government of Nuevo León confirmed its readiness for the arrival of Tesla and noted that many suppliers are already investing and producing in the state. This situation underlines the importance of clear and committed communication between international investors and national governments to avoid uncertainty and maintain stable economic relations.
