*The governor of Mexico’s state of Nuevo León, Samuel García, has confirmed that Swedish car manufacturer Volvo is opening a new plant in the state. In a video posted on social media, García said he was “very happy” to confirm the project and that more details would be announced in the coming days. This comes after Volvo announced in April that it planned to build a new heavy-duty truck manufacturing plant in Mexico to supplement its US production. At the time, Volvo stated that it expected the factory to be operational by 2026. Nuevo León was set to be the site of a new ‘gigafactory’ for US electric vehicle (EV) manufacturer Tesla. However last month Tesla CEO Elon Musk stated that plans for the factory had been suspended until after the US presidential elections in November, given that candidate and former US president Donald Trump (2017-2021) has threatened to impose heavy tariffs on vehicles produced in Mexico if he returns to the White House.
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LatinNews Daily - 20 August 2024
In brief: Volvo to build factory in Mexico’s Nuevo León state
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