The media in Mexico reports the EV manufacturer Tesla is putting the brakes on its new Gigafactory planned for the northern state of Nuevo Leon. According to monitoring of media reports in Mexico, Elon Musk says permitting for the plant is continuing but actual construction will be delayed due to a global economic slowdown. The government of the state, Samual Garcia, pushed back on reports the plant will be cancelled. Garcia and Musk claim ground will be broken on the new plant in 2024. “We will definitely build the plant in Mexico, and we feel very comfortable with the location,” Musk said according to reporting by La Silla Rota. Meanwhile, Mexico News Daily is reporting a 35% annual increase in car sales in Mexico in September of 2023.
Near shoring picks up steam in Mexico as commercial real estate investors snap up land for future industrial parks. Fibra Prologis, a major real estate