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Elon Musk, CEO of Tesla, a major American electric vehicle (EV) company, said on July 23 that investment in the Mexican factory under construction is currently “on hold.” He mentioned that this is because Trump has said that if he is re-elected as US president, he will impose high tariffs on Mexican-made cars.
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| Elon Musk |
Trump has asked automakers to produce cars in the U.S. He has said that if elected, he will impose high tariffs on cars imported from Mexico to the U.S., and he has also said that he will impose a 100% tariff on cars produced in Mexico and exported to the U.S. by Chinese manufacturers.
Musk announced the suspension of investment in the Mexican factory at the earnings conference for April-June 2024 on July 23. He said, “We need to evaluate the situation after the (November presidential) election.” Musk said that if Trump is elected and implements the above remarks in the form of policy, “the huge investment in Mexico will be meaningless.”
Tesla is planning to build a “Giga Factory” for EVs in the northern state of Nuevo León, Mexico. Musk said that as an alternative to investing in Mexico, it is currently “expanding the capacity of existing factories.”
Musk is approaching Trump, who is seeking re-election as US president. After the shooting of Trump on July 13, Musk said he would support Trump in the presidential election. Musk also revealed that he had communicated with Trump many times on EV-related matters.
Nikkei (Chinese version: Nikkei Chinese website) Ryotaro Yamada reports from Silicon Valley
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