In São Paulo, Velasco courted Embraer and the state industry federation with Plan México, after meeting Lula and co-chairing the two countries’ VI Binational Commission.
Kia will invest $649 million to produce its first electric vehicle in Mexico at its Pesquería, Nuevo León plant. Production starts August 4, creating 2,000 jobs through 2030, report Muñoz and Jiménez.
Sheinbaum took the wheel at the debut of the Olinia 1, a plug-in with 125 km range that goes on sale next summer as Mexico’s bet on building its own electric vehicle.
Mexico avoids straining relations and, at the same time, avoids pursuing an industrial policy that might affect established interests, particularly those of large transnational corporations. External constraints & internal indecisiveness reinforce each other.
The announcements of new investments that never materialize must end now, and with them, the change or evolution of Plan México.
Monetary and fiscal authorities are not addressing challenges facing the national economy, both in terms of stagnation, increasing employment, and dealing with the blows arising from the US.
Mexico’s redistributive social programs have had tangible, laudable benefits, but continuing to redistribute revenues received from taxing the working class in an economy that lacks domestic productive capacity and a financial system that fails to channel industrial credit only filters money into imports and strengthens foreign multinationals.
Full text of Mexican President Claudia Sheinbaum’s first informa (government report), celebrating her administration’s achievements in areas such as the economy, healthcare, energy, security, and social welfare.
The decision is immediate: Mexico must break with four decades of dependence and build a solid productive base or resign ourselves to being sidelined in the new manufacturing era.
Mexico can’t choose its neighbors, but Mexico can choose a new path of unity and strength with other Latin American and Global South countries that share our values to make us stronger.