Mexico in Brief

Mexico in Brief, our monthly newsletter, is available in this section. Our Mexico in Brief summarizes the most relevant business news in Mexico, and also lists the main Mexican economic indicators. Our file is organized by issue number and issue date. Please consult it at your convenience and send us any comments through the link appearing below, or emailing us at mexico.in.brief@jata.mx.

From Mexico in Brief Newsletter

  • THOUSANDS OF NEW CHARGING STATIONS.

    The company Evergo, the platform for charging stations for electric vehicles, announced an investment of approximately U.S.$200 million for the next five years and the installation of more than 15,000 new charging stations in various parts of Mexico. The charging stations will mainly be in Mexico City, the states of Nuevo Leon, Jalisco, Queretaro, Yucatan, and Baja California. This phase is part of a larger long-term investment to achieve some 15,000 new chargers throughout Mexican territory in 10 years.

  • MORE IN THE AUTOMOBILE INDUSTRY.

    The United States of America will inject approximately U.S.$52 billion over the next five years into the production of semiconductors in North America as part of the agreement it made with Mexico and Canada to strengthen the industry in the region. The investment will be reflected in manufacturing and will require Mexico and Canada's participation as suppliers of raw materials and in the manufacturing and assembly stages of the production of semiconductors.

  • BRP´s MILESTONE.

    BRP Inc., a Canadian manufacturer focused on snowmobiles, all-terrain vehicles, side-by-sides, motorcycles, and personal watercraft, announced the construction of an additional boat manufacturing facility in the Mexican state of Chihuahua. The new production facility represents an investment of approximately U.S.$164 million and an increase in its manufacturing capacity to meet the demand for its marine products and drive business growth. 

  • IN THE MAP FOR LITHIUM BATTERIES.

    Cenntro Automotive Mexico announced the investment of approximately U.S.$200 million in the first phase to produce lithium-ion batteries in the Mexican state of Nuevo Leon. With this, the state has put itself on the map to produce lithium batteries for electric units. Construction began in 2022 in an extension of 10 thousand 436 square meters, with hopes of beginning operations in the second quarter of 2023.

  • TESLA: A SNOWBALL REACTION.

    With promising talks about the potential opening of a Tesla manufacturer in one of the Northern states of Mexico, Yanfeng, a Chinese company that will produce the structure of the seats for traditional and electric vehicles, announced the construction of its second facility in the Mexican State of Nuevo Leon.  The project will have an investment of approximately U.S.$30 million.  Among the company’s clients are Tesla, GM, and Silao. 

  • MILLION-DOLLAR INVESTMENTS FROM CHINA.

    The Chinese company Noah Itech announced the construction of a facility in the Mexican state of Nuevo Leon, in which it will invest approximately U.S.$100 million. With the possibility of starting operations in May of this year, Noah Itech will offer technological solutions with high-added value for various industries, including electromobility. Tesla is one of the company’s main clients, along with General Motors, Facebook, and Google.

  • AND THE WINNER IS…

    One year after the announcement of the sale of Banamex from Citigroup, the second-largest bank in Mexico, Citi chose German Larrea, from Grupo Mexico, as the ‘winning bidder’ for the sale of Banamex. Mr. Larrea presented a purchase proposal for approximately U.S.$11 billion against the approximately U.S.$9 billion offered by Daniel Becker of Banco Mifel and president of the Association of Banks of Mexico. 

  • NEW YEAR, NEW AUTHORIZATIONS.

    As the year 2023 begins, the Mexican National Baking and Securities Commission (CNBV for its acronym in Spanish) authorized the operation of two fintech companies: Monfic and Mozper Mexico. Monfic, a platform specialized in the tourism sector of Mexico, received the authorization to operate as a Collective Financing Institution with an initial capital of approximately U.S.$170 million. On the other hand, Mozper Mexico, which offers solutions focused on financial education for children, received the authorization to operate as an Electronic Payment Fund Institution. 

  • MEXICO AND THE GROWTH OF NEARSHORING.

    Since November of last year and up until this month, Mexico attracted investments derived from nearshoring for approximately U.S.$2 billion, highlighting the operations of companies in the automobile sector. Nearshoring Tracker pointed out that within automotive investments, the most relevant was the BMW electric plant of approximately U.S.$850 million. On the other hand, the country had the implementation or expiation of nearshoring operations of approximately 75 and 100 Canadian, Chinese, Korean, and Japanese companies.