Mexico's President announces a plan to develop an affordable electric car domestically, targeting China imports.

Mexico's President Claudia Sheinbaum has announced plans to develop an affordable, small electric car domestically to compete with imports from China, following Tesla's decision to pause its plant in Mexico. The initiative aims to unite local companies and researchers for production. However, challenges include the absence of domestic lithium production for batteries and high electricity rates, which may hinder charging affordability.

October 11, 2024
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