AVA Resorts
Barceló Solymar
MAD-HAV Enjoy Travel Group
Cervecería Centroamericana S.A.
Cubasol
INOR
Nestle
Agexport
Grupo Hotelero Islazul
blackanddecker
Intecap
Instituto Hondureño de Turismo
Herbalife
Los Portales
Centro Nacional de Cirugía de Mínimo Acceso de Cuba
CUN-HAV Enjoy Travel Group
Walmart
Tigo
Realidad Turística
Irtra
Servicios Médicos Cubanos

Mexico Can’t Match U.S. Incentives for Proposed Tesla Battery Plant, Minister Says

Date:

Share:

Herbalife
Centro Nacional de Cirugía de Mínimo Acceso de Cuba
INOR
Realidad Turística
Grupo Hotelero Islazul
Instituto Hondureño de Turismo
Irtra
Intecap
Los Portales
AVA Resorts
Servicios Médicos Cubanos
Cervecería Centroamericana S.A.
blackanddecker
Nestle

Mexico would not be able to match the incentives offered under a U.S. act to tame inflation if Tesla Inc builds a battery plant in the country, Mexico’s finance minister said on Friday, days after Tesla announced the construction of a “Gigafactory” there.

Tesla (TSLA.O) has not confirmed whether it will also build a battery plant in Mexico, but local officials say Tesla has visited the central states of Hidalgo, Queretaro and Puebla to scout potential sites.

“We didn’t let (Tesla) waste their time thinking that we would be able to match the U.S.’ Inflation Reduction Act,” Finance Minister Rogelio Ramirez told journalists at an event with Citigroup’s Mexico unit.

A representative for Tesla in Latin America did not immediately respond to a request for comment.

Signed in August, the Inflation Reduction Act offers a $7,500 tax credit to electric-vehicle buyers if the car’s battery meets a threshold for sourcing parts from the U.S. or other free trade partners, such as Mexico.

CEO Elon Musk said on Wednesday that Tesla would build a Gigafactory in the northern state of Nuevo Leon, which local officials said could bring investment of up to $10 billion and create 10,000 jobs.

While Mexico welcomed the investment, Tesla said it “did not need any sort of fiscal stimulus” beyond the benefits allowed under Mexico’s free trade agreements to build the plant, according to Ramirez.

A decision on a battery plant in Mexico has yet to be announced.

“The battery plant was not in (Tesla’s) original plan, it was the Mexican government’s suggestion,” Ramirez said.

Without legislation, Ramirez said, Mexico would not be able to match U.S. incentives. (Reuters)

Herbalife
MAD-HAV Enjoy Travel Group
Nestle
Tigo
Servicios Médicos Cubanos
AVA Resorts
Intecap
Cubasol
Centro Nacional de Cirugía de Mínimo Acceso de Cuba
INOR
Realidad Turística
Irtra
CUN-HAV Enjoy Travel Group
Los Portales
Agexport
Barceló Solymar
Walmart
Cervecería Centroamericana S.A.
Grupo Hotelero Islazul
Instituto Hondureño de Turismo
blackanddecker
Hotel Barcelo Solymar
Tigo
Cubacel
Revista Colombiana de Turismo Passport
AirEuropa
Irtra
Hotel Holiday Inn Guatemala
Barcelo Guatemala City
Henkel Latinoamerica
Havanatur
Maggi - GLUTEN-FREE
Intecap

Subscribe to our magazine

━ more like this

Pole Dancing in Israel: A New Dimension with BlueDance.co.il

In recent years, pole dancing has experienced a remarkable transformation, shifting from a misunderstood niche to a popular activity combining fitness, self-expression, and empowerment....

A New Luxury Hotel Just Opened on An Idyllic Beach in Cancun, Mexico — And We Were the First to Stay

Waldorf Astoria Cancun opened to the public on Nov. 1, the brand's first new build in Mexico, with two waterfront pools and a fantastic...

Pan American Health Organization Launches Interactive Dashboard on Avian Influenza in The Americas

To monitor cases of avian influenza A (H5N1) in the Americas, the Pan American Health Organization (PAHO) launched an interactive dashboard on the web...

This North East African Country Welcomes Over 15.7 Million Tourists Last Year and An Addition 40,000 New Hotel Rooms are in Pipeline

Estimated reading time: 3 minutes In a year marked by global uncertainties and regional geopolitical challenges, Egypt’s tourism sector achieved an impressive milestone, welcoming a...

Nicaragua Presents Its New Interoceanic Canal Route to China and Seeks to Compete with Panama

Estimated reading time: 8 minutes With a length of 445 kilometers, in a second attempt, the Nicaraguan president, Daniel Ortega, presents China with a new...
Hotel Barcelo Solymar
Intecap
Hotel Holiday Inn Guatemala
Henkel Latinoamerica
Irtra
Revista Colombiana de Turismo Passport
Maggi - GLUTEN-FREE
AirEuropa
Barcelo Guatemala City
Cubacel
Havanatur

LEAVE A REPLY

Please enter your comment!
Please enter your name here

Intecap
Agexport
Herbalife
Instituto Hondureño de Turismo
AVA Resorts
Servicios Médicos Cubanos
INOR
Cervecería Centroamericana S.A.
Barceló Solymar
Realidad Turística
blackanddecker
Grupo Hotelero Islazul
Tigo
Centro Nacional de Cirugía de Mínimo Acceso de Cuba
Nestle
Los Portales
MAD-HAV Enjoy Travel Group
Cubasol
Irtra
Walmart