Lithium Exploitation on the Spotlight

Mexico’s President Andrés Manuel López Obrador announced that the country’s lithium will be used to strengthen the local automotive industry. The country will collaborate with Bolivia to exploit this resource. Moreover, the approval of the US Inflation Reduction Act is expected to benefit Mexico as it considers vehicle components from the country as originating from the US.

Meanwhile, Volkswagen announced an investment in Puebla, while Aguascalientes is welcoming a new plant of Autoliv.

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Volkswagen to Make Historic Investment in Puebla

With a new investment in the works, Volkswagen will benefit over 11,000 employees at its plant in Puebla and put the state at the forefront of electromobility. “This investment will put Puebla at the forefront in terms of technology and will ensure the permanency of jobs and supply for the next 20 years as we head toward the automotive industry of the future,” said Puebla Minister of Economy Olivia Salomón. The company is expected to reveal more details about this project in October. Read the full story on MBN.

Bolivian EV to Arrive in Mexico

Mexico’s Minister of Foreign Affairs, Marcelo Ebrard, announced that the Quantum E4, a Bolivian electric car, will be available in the Mexican market by 2023. The arrival of the EV in Mexico will be possible thanks to an alliance between Quantum and Potencia Industrial. “Quantum is a Bolivian company aligned with the purpose of its country to not be only a lithium producer, but an active player of lithium processing and battery generation. Bolivia has between 30-40 percent of the global lithium reserves,” said Ebrard. Read more about the collaboration between Mexico and Bolivia regarding lithium here.

Autoliv Inaugurates Plant in Aguascalientes

Autoliv inaugurated a new plant in Aguascalientes at FINSA’s industrial park to develop high security equipment for auto motor vehicles and steering wheels for the main global automakers. This project represents an investment of US$60 million and will create over 3,000 jobs in the state. “The inauguration of the Autoliv plant in Aguascalientes is one of the most significant projects that we have brought regarding foreign direct investment in this current administration. Congratulations to all of Autoliv’s team and thank you for trusting our state,” said Eduardo Infante, Aguascalientes' Deputy Minister of Investment for Economic Development. Read more about this project here.

Vehicle Production: Priority in Mexico’s Lithium Supply Chain

President López Obrador announced on Friday that the state-managed exploitation of lithium will benefit various industries, fostering automotive investment and contributing to the companies that already have assembly plants in Mexico. “We have lithium that we could sell to anyone, but the priority is to strengthen the automotive industry in Mexico. We are analyzing this and we are very much looking forward to resolving our priorities based on the characteristics of the company,” said López Obrador. The president also addressed the partnership between Mexico and Bolivia on lithium exploitation. Learn more about it here

Material Technology: Key to Electromobility Transition

The automotive industry requires more advanced building materials to boost fuel efficiency, while simultaneously providing safe, high-performing and cost-effective vehicles. For the past decades, materials such as steel and metal alloys were the standard but the rapid increase of technology and the adoption of electric and hybrid vehicles, e-mobility and other sustainability trends require the transformation of almost every part of the car. Read more about this here.

US Inflation Reduction Act to Benefit Mexican Automotive Industry

Mexico’s Ministry of Economy (SE) celebrated that the approval of the US’s Inflation Reduction Act did not discriminate against the manufacture of batteries and electric vehicles in North America. The bill extended the US$7,500 consumer income tax credit for the purchase of new EV and added a credit of US$4,000 for buying a used EV. This bill is expected to pass in the House to be signed afterwards by US President Joe Biden. “In our region, we produce together to compete globally. We must deepen our productive integration to provide wellbeing to our societies and leave no one behind. We will continue to monitor [the bill’s] passage through the House of Representatives,” said SE. Read the whole story in MBN.