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☆ Elon Musk’s dozens of meetings with presidents, prime ministers and political candidates show his growing political influence
▼ + stars: | 2024-10-25 | by ( Clare Duffy | Way Mullery | ) edition.cnn.com time to read: +9 min

New York CNN —Over the past three years, Elon Musk has met dozens of times with presidents, prime ministers, lawmakers, government officials and political candidates from around the world. Other meetings, such as a recent conversation with Argentine President Javier Milei, the world only glimpses through the billionaire’s social media posts. Recently, Musk’s political activism has begun to have a tangible impact on his companies: Brands pulled their advertisements from X, tanking its value. CNN’s analysis also suggests that Musk has, in particular, worked to develop influence among a set of right-leaning world leaders, including Modi, Bolsonaro, Milei and Italian Prime Minister Giorgia Meloni. Now, as he campaigns for Trump, Musk may be setting himself up for his most prominent political role yet: a position in a possible future Trump White House.

Persons: Elon Musk, Benjamin Netanyahu, Javier Milei, Musk, Vladimir Putin, Dmitry Peskov, ”, Ron DeSantis, Robert F, Kennedy, Jr, Donald Trump, Kamala Harris, “ He’s, he’s, James Lewis, it’s, Tesla, “, ” Lewis, “ They’re, Jair, Andrés Manuel López Obrador, Li Qiang, Emmanuel Macron, Recep Tayyip Erdogan, Narendra Modi, William Klepper, you’ve, ” Musk, Modi, Giorgia Meloni, India’s Modi Organizations: New, New York CNN, Argentine, CNN, Wall Street Journal, Putin, Gov, Trump, Center for Strategic, International Studies, Indian, Columbia Business School, Brands, SpaceX, Italian, Elon, Trump White House, Department of Government Locations: New York, Israel, South Africa, United States, Brazil, Nuevo Leon, Shanghai, China, Turkish, California, Italy, India, Argentina, ”

☆ How China became the leading car supplier to Mexico and what it means for the U.S.
▼ + stars: | 2024-08-23 | by ( Merritt Enright | ) www.cnbc.com time to read: +3 min

Last year, China was the leading car supplier to Mexico, exporting $4.6 billion worth of vehicles to the country, according to the Mexican Ministry of Economy. "The Chinese automakers came to the country very aggressively," said Juan Carlos Baker, former Mexican deputy minister for international trade. That free trade access is part of the United States-Mexico-Canada Agreement (USMCA), a revised iteration of the North American Free Trade Agreement (NAFTA) that removed tariffs on many goods traded between the North American countries starting in 2018. "We've seen China do this in other types of manufacturing as well, from appliances to auto parts to steel," said Paul. Watch the video to learn more about how Mexico has become a hot spot for Chinese auto companies and how the next administration may impact EV trade policies.

Persons: BYD, Juan Carlos Baker, Scott Paul, We've, Paul, Michael Dunne, Dunne, Joe Biden, it's Organizations: Mexican Ministry of, Nuevo, Alliance for American Manufacturing, North American Free Trade, North Locations: U.S, Mexico, Washington, China, North America, Mexican, Durango, Jalisco, Nuevo Leon, United States, Canada, America

☆ First confirmed moon cave could provide future astronauts shelter
▼ + stars: | 2024-07-20 | by ( Ashley Strickland | ) edition.cnn.com time to read: +6 min

The surface feature is Mare Tranquillitatis, or the Sea of Tranquility, where the Apollo 11 mission landed on the afternoon of July 20, 1969. Scientists have discovered a large lunar cave connected to a pit found within the moon's Sea of Tranquility. NASA/Goddard/Arizona State UniversityScientists have found a subterranean cavity beneath the Sea of Tranquility, and it may provide shelter for future lunar astronauts in the form of a cave. Lunar caves, or underground passages formed by volcanic processes during the moon’s early history, are connected to pits covering the lunar surface. The long, wide cave, found by reviewing archival NASA data, could be used to protect astronauts from harsh radiation and extreme temperature swings as well as provide a new avenue to study lunar rocks.

Persons: revel, Neil Armstrong, Buzz Aldrin, Artemis, Ramses, Hamilton, Lori Hilton, Maine coons, squint, ”, Dana Varble, Sharp, Jürgen, Missy Elliott’s, Ashley Strickland, Katie Hunt Organizations: CNN, NASA, Goddard, Arizona State University Scientists, European Space Agency, French bulldogs, North American Veterinary Community, Space Agency, Sharks, New, CNN Space, Science Locations: Maine, Hamilton, Mexico, Mexican, Nuevo, Argentina, Americas, New Zealand, —, Cambodia, New York City, New Jersey

☆ Fossil of an ancient shark that swam in the age of dinosaurs solves centuries-long mystery
▼ + stars: | 2024-07-15 | by ( Taylor Nicioli | ) edition.cnn.com time to read: +8 min

Ancient relative of the great white sharkMost species of Ptychodus lived between 100 and 80 million years ago during the late Cretaceous period. Because shark skeletons are made of cartilage, they do not fossilize well, typically leaving archaeologists only teeth and few skeletal remains to find. Lamniformes also includes the modern species of megamouth, sand, goblin and basking sharks, among others. “The crushing teeth together with the gigantic size make Ptychodus a very unique shark,” Amadori said. … Modern durophagous sharks (that consume hard-shelled organisms) are demersal, feeding on or near the bottom.

Persons: ”, Eduardo Villalobos Segura, Villalobos Segura, Lamniformes, Manuel Amadori, Amadori, Michael Everhart, Louis Agassiz, Everhart, mortoni, —, ” Amadori, “, Jürgen, Bretton Kent, ” Kent Organizations: CNN, Royal Society, Biological Sciences, University of Vienna, Sternberg, Nuevo León, University of Maryland Locations: Mexico, Austria, Nuevo León, Vallecillo, Nuevo, Hays , Kansas, Ptychodus

☆ Tropical Storm Alberto makes landfall in Mexico; Texas faces flooding and heavy rain
▼ + stars: | 2024-06-20 | by ( Chantal Da Silva | ) www.cnbc.com time to read: +3 min

Storm Alberto, the first named tropical storm of the hurricane season, was located approximately 305 miles south-southeast of Brownsville, Texas and formed earlier today in the Southwestern Gulf of Mexico. The first named storm of the hurricane season made landfall in Mexico on Thursday, bringing heavy rain and flooding to the country's Gulf Coast and Texas. Tropical Storm Alberto is moving inland over Mexico with maximum sustained winds of 45 mph, the National Hurricane Center said in an update at 7 a.m. local time. A Tropical Storm Warning that was in effect for the Texas coast from San Luis Pass southward to the mouth of the Rio Grande was lifted early Thursday. Alberto's center was forecast to move west into Mexico before weakening and most likely dissipating by Thursday night, the National Hurricane Center said.

Persons: Storm Alberto, Alberto, Greg Abbott Organizations: Storm, Tropical, National Hurricane Center, Gov, Texans, Texas, M Forest Service, Texas National Guard, Chinook, National Weather Service, Atmospheric Administration Locations: floodwater, Surfside Beach , Texas, Brownsville , Texas, Southwestern Gulf of Mexico, Mexico, Coast and Texas, Texas, San Luis, Rio Grande, Rio, Tecolutla, Surfside Beach, Brazoria County, Coahuila, Nuevo León, Tamaulipas, Nuevo, Monterrey, Allende

A stage in northern Mexico where a presidential candidate was campaigning collapsed after a gust of wind blew through the area on Wednesday night, leaving at least five people dead and at least 50 others injured, a state governor said. The stage collapsed in a suburb of Monterrey, in the state of Nuevo León, during an event attended by the progressive candidate Jorge Álvarez Máynez and other members of the Citizens’ Movement party. The collapse was caused by strong wind, President Andrés Manuel López Obrador of Mexico said on social media. Samuel García, the governor of Nuevo León, announced the deaths and injuries in a news conference. The stage, which had been erected on a baseball field in the city of San Pedro Garza García, was the site of a campaign event for the Citizens’ Movement party’s candidate for the city’s mayoral election, Lorenia Canavati.

Persons: Jorge Álvarez Máynez, Andrés Manuel López Obrador, Samuel García, San Pedro Garza García, Lorenia Canavati Organizations: Citizens ’ Movement Locations: Mexico, Monterrey, Nuevo León, San

☆ 9 dead, 54 injured as wind causes stage collapse at Mexico election rally
▼ + stars: | 2024-05-23 | by ( Michael Rios | ) edition.cnn.com time to read: +2 min

CNN —Nine people were killed and a presidential candidate was briefly taken to hospital after a stage collapsed under heavy winds at a campaign rally in Mexico on Wednesday. Candidate Jorge Álvarez Máynez said he was not injured in the incident, which happened during his campaign event in the northeastern city of San Pedro Garza García. The governor of Mexico’s Nuevo Leon state said at least 54 people were injured and rescue operations were ongoing to save some of the people trapped under the collapsed stage. Álvarez Máynez later said he was suspending all campaign activities after the collapse but would remain in the state to monitor the situation and victims. The presidential candidate said an investigation into the incident would take place.

Persons: Jorge Álvarez Máynez, San Pedro Garza García, Samuel García, Máynez, Álvarez Máynez, ” Álvarez Máynez, Alberto Lopez, ”, Governor García Organizations: CNN, Security, Civil Defense Locations: Mexico, San, Mexico’s Nuevo Leon, San Pedro

☆ Taquería El Califa de León: This tiny taco stand in Mexico City has just earned a Michelin star
▼ + stars: | 2024-05-16 | by ( Tamara Hardingham-Gill | ) edition.cnn.com time to read: +3 min

CNN —A tiny, no frills taco stand in Mexico with just four items on its menu has been awarded a star by the coveted Michelin Guide. Taquería El Califa de León, located in the San Rafael neighborhood of Mexico City, was among the establishments to garner either one or two stars in the first ever Michelin Guide Mexico, published earlier this week, making it the first Mexican taco stand to receive the honor. Taquería El Califa de León is the first ever Mexican taco stand to receive a Michelin star. Fernando Llano/AP“The secret is the simplicity of our taco,” Rivera Martínez told the Associated Press. “With meat and tortillas of this caliber, the duo of house-made salsas is hardly even necessary,” says the Michelin Guide.

Persons: Taquería El, Chef Arturo Rivera Martínez, León, Fernando Llano, ” Rivera Martínez, Rodolfo Gaona, Silvana Flores, tacos, Rivera Martínez, “, ”, Jorge Vallejo, Alejandra Flores, Elena Reygadas’s Rosetta, Gwendal, Chan Hon Meng’s Organizations: CNN, Michelin, AP, Associated Press, Getty, Nuevo León, Michelin Guides Locations: Mexico, San Rafael, Mexico City, Mexican, AFP, Oaxaca, Baja California, Cabos, Nuevo, Chan Hon Meng’s Singapore

☆ US and China are buying into Mexico’s manufacturing moment
▼ + stars: | 2024-04-28 | by ( John Towfighi | ) edition.cnn.com time to read: +9 min

CNN —As US supply chains decouple from China, Mexico’s manufacturing sector is emerging as a winner. Ramos said Mexico and China have been competing for the US manufacturing market for years, but amid a shifting US-China relationship, Mexico looks poised to pull ahead. Those exports were driven by manufacturing, which comprises 40% of Mexico’s economy, according to Morgan Stanley. Meanwhile, Chinese exports to the US were down 20% in 2023, compared to 2022. Analysts at Morgan Stanley see the value of Mexico’s exports to the United States growing from $455 billion to about $609 billion in the next five years.

Persons: That’s, nearshoring, Alberto Ramos, Goldman Sachs, Ramos, Morgan Stanley, Katherine Tai, CNN’s Julia Chatterley, Tai, United States Jose Luis Gonzalez, Xeneta, Peter Sand, Jose Enrique Sevilla, John Raines, Goldman’s Ramos, Biden, Raquel Buenrostro, —, Joe Biden, Donald Trump, Trump, ”, Global’s, Raines, Christoffer Enemaerke, “, Tesla, Elon Musk, Julio Cesar Aguilar, BYD doesn’t, RBC’s Enemaerke, Michael Nam Organizations: CNN, Manufacturing, Commerce Department, US Trade, General Motors, Ford, Reuters, Shipping, Container Trade, Xeneta, Moody’s Analytics, P Global Market Intelligence, steelworkers, “, Global’s Sevilla, Macip, RBC, Getty, BYD, ” Sevilla, Monterrey Locations: China, Mexico, Canada, North America, US, Ciudad Juarez, United States, Pittsburgh, Mexican, Monterrey, ”, Nuevo Leon, Asia

Whether you're a Messi enthusiast or a longtime Inter Miami fan, we've compiled everything you need to know about how to buy Inter Miami tickets to see Messi live. We've got you covered if you're looking for tickets to Inter Miami games in 2024, where you'll maybe get a chance to see Messi play. How to buy Inter Miami ticketsOriginal standard tickets to Inter Miami games are sold through Ticketmaster. How much are Inter Miami tickets? On StubHub, resale ticket prices to Inter Miami games are typically a little cheaper than the original standard tickets.

☆ Your next Tesla could be made by China
▼ + stars: | 2024-02-14 | by ( Aaron Mok | ) www.businessinsider.com time to read: +4 min

Elon Musk invited the suppliers to Mexico as part of plans for cheaper Teslas, Bloomberg reported. That move could be stoking concerns among US officials and EV makers over China's influence. China has a "highly organized, highly efficient supply chain," Venkatesh Prasad, chief innovation officer at the Center for Automotive Research, told Bloomberg. AdvertisementTesla, which also makes cars in the US, and other US-based EV makers may also be feeling the heat from competitors. Mary Lovely, a senior fellow at the Peterson Institute for International Economics, told Bloomberg.

Persons: Elon Musk, —, Tesla's, Venkatesh Prasad, Tesla, stoke, Katherine Tai, Tai, Biden, EVs, China's, Tesla's Musk, Mary Lovely Organizations: Bloomberg, Service, Center for Automotive Research, Business, Trump, Chinese Communist Party, US Trade Rep, Nikkei, EV, Peterson Institute for International Economics Locations: Mexico, Monterrey, Shanghai, Mexican, Nuevo Leon, Austin, China, Beijing, Washington, DC, United States

☆ The US is now buying more from Mexico than China for the first time in 20 years
▼ + stars: | 2024-02-09 | by ( Noah Sheidlower | Cork Gaines | ) www.businessinsider.com time to read: +6 min

Read previewNew data released Wednesday by the Commerce Department showed that in 2023, Mexico was the leading source of goods imported to the US — ahead of China for the first time in over 20 years. Mexico surpassing China as America's top trade partner signals a significant shift in global commerce dynamics. Chinese imports fell 20% in the same time period, to $427.2 billion, just slightly above Canada. Additionally, the value of Chinese imports remained above the value of Mexican imports from 2002 until this most recent data. More than a third of US imports — valued over $3 trillion — come from Mexico, China, and Canada.

Persons: —, Joe Biden, Mexico Andres Manuel Lopez Obrador, HECTOR VIVAS, Biden, CLAUDIO CRUZ, Tesla, JULIO CESAR AGUILAR Organizations: Service, Commerce Department, Business, Trump, New York Times, Foreign, Investment, Automobiles, Getty Images, Bloomberg Locations: Mexico, China, Canada, Trade, South Korea, India, Vietnam, United States, Monterrey, Nuevo Leon, Getty Images Mexico, Nuevo León

It may be just electioneering: López Obrador leaves office in September, and he really wants his party’s candidate, former Mexico City mayor Claudia Sheinbaum, to win the presidential elections. López Obrador has made other unfulfilled promises in the past, like pledging Mexico would have a health care system “better than in Denmark." But the cost of what López Obrador is proposing for pensions is striking. The other half of Mexicans, who work under the table in the ‘informal’ economy, have no pension program at all. It seems unlikely to be achieved, so why would López Obrador propose it?

Persons: —, Andrés Manuel López Obrador, López Obrador, Claudia Sheinbaum, “ It's, Morena, ”, Gabriela Siller, It's, he'll, “ López Obrador, Claudia, Sheinbaum, Viri Ríos Organizations: MEXICO CITY, Mexico City, Morena, Nuevo Leon, Banco Base, López Obrador doesn’t, National Guard Locations: MEXICO, Mexico, Denmark, Morena

☆ Mexico's Samuel Garcia pulls out of 2024 presidential race
▼ + stars: | 2023-12-02 | by ( ) www.reuters.com time to read: +2 min

Governor of Nuevo Leon state Samuel Garcia poses for a picture with students as he arrives at an event of school equipment delivery at the Prepa Tec high school, in Monterrey, Mexico April 25, 2023. REUTERS/Daniel Becerril/File Photo Acquire Licensing RightsMEXICO CITY, Dec 2 (Reuters) - Samuel Garcia, one of the two main opposition hopefuls competing in Mexico's 2024 presidential election, has withdrawn from the contest to return to his post as governor of the northern state of Nuevo Leon, his party said on Saturday. "I have decided to not participate in the electoral race for President of the Republic," the 35-year-old Garcia said in a statement from the Nuevo Leon government made public by his center-left Citizens' Movement (MC) party. Garcia then became embroiled in a dispute about who would replace him in Nuevo Leon, where his political opponents control the state legislature, which votes in the interim governor. Recent opinion polls have given Garcia around 10% support in the presidential race, putting him behind Xochitl Galvez, candidate of the main opposition alliance.

Persons: Samuel Garcia, Daniel Becerril, Garcia, Luis Enrique Orozco, Garcia's, Orozco, Xochitl Galvez, Mexico City Mayor Claudia Sheinbaum, MORENA, Dante Delgado, Dave Graham, Adriana Barrera, Nick Zieminski Organizations: Tec, REUTERS, MEXICO CITY, Nuevo, ' Movement, Regeneration, Mexico City Mayor, Thomson Locations: Nuevo Leon, Monterrey, Mexico, MEXICO, Republic

☆ US Senate Republicans unveil border plan as House Ukraine bill looms
▼ + stars: | 2023-11-06 | by ( ) www.reuters.com time to read: +2 min

2 Senate Republican John Thune told reporters that Johnson's plan has "a lot" of support among Republicans in the Senate, adding: "It'd be strong." The Republican-controlled House passed HR-2 in May, but the bill has gone nowhere in the Democratic-led Senate. Among other things, the Senate Republican proposal would resume construction of a border wall -- former President Donald Trump's signature goal -- in addition to deeming large numbers of migrants ineligible for asylum. Republican border provisions face broad opposition from Democrats in Congress and from President Joe Biden. He told reporters that a bill linking Ukraine aid to border security would come soon.

Persons: San Nicolas de los, Daniel Becerril, Mike Johnson, Republican John Thune, Lindsey Graham, Tom Cotton, James Lankford, Donald Trump's, Joe Biden, Johnson, David Morgan, Scott Malone, Deepa Babington Organizations: REUTERS, Rights, U.S, Senate Republicans, Republican, Republicans, Democratic, Democrats, Internal Revenue Service, Thomson Locations: U.S, Nuevo Leon, San Nicolas, San Nicolas de los Garza, Mexico, Ukraine, Republican, Israel

☆ Mexico's Sheinbaum Holds 18 Point Lead in Presidency Race -Poll
▼ + stars: | 2023-10-31 | by ( Oct. | At P.M. | ) www.usnews.com time to read: +2 min

MEXICO CITY (Reuters) - Former Mexico City Mayor and ruling party candidate Claudia Sheinbaum holds an 18 percentage point lead over her nearest rival in the race to win Mexico's next presidential election on June 2, an opinion poll showed on Tuesday. Sheinbaum has the firm backing of popular President Andres Manuel Lopez Obrador, who cannot seek reelection. A third presidential hopeful, Nuevo Leon state Governor Samuel Garcia of the center-left Citizens' Movement (MC) party, was polling 8 percent support. Respondents in the newspaper's poll suggested that those characteristics did not play in either candidate's favor. El Financiero said its poll had an overall margin of error of plus or minus 2.4 percentage points.

Persons: Claudia Sheinbaum, Mexico's, El Financiero, Sheinbaum, Xochitl Galvez, Andres Manuel Lopez Obrador, Galvez, Samuel Garcia, Lopez Obrador, Sheinbaum's, Dave Graham, Jonathan Oatis Organizations: MEXICO CITY, Mexico City Mayor, Regeneration, Nuevo, ' Movement Locations: MEXICO, Nuevo Leon, Mexico, Europe

☆ Mexico's Sheinbaum holds 18 point lead in presidency race -poll
▼ + stars: | 2023-10-31 | by ( ) www.reuters.com time to read: +3 min

Former Mexico City Mayor Claudia Sheinbaum gestures as she speaks on the day she is certified as presidential candidate for the ruling National Regeneration Movement (MORENA) party during a ceremony, in Mexico City, Mexico September 10, 2023. REUTERS/Henry Romero/File Photo Acquire Licensing RightsMEXICO CITY, Oct 31 (Reuters) - Former Mexico City Mayor and ruling party candidate Claudia Sheinbaum holds an 18 percentage point lead over her nearest rival in the race to win Mexico's next presidential election on June 2, an opinion poll showed on Tuesday. Sheinbaum has the firm backing of popular President Andres Manuel Lopez Obrador, who cannot seek reelection. A third presidential hopeful, Nuevo Leon state Governor Samuel Garcia of the center-left Citizens' Movement (MC) party, was polling 8 percent support. El Financiero said its poll had an overall margin of error of plus or minus 2.4 percentage points.

Persons: Mexico City Mayor Claudia Sheinbaum, Henry Romero, Claudia Sheinbaum, Mexico's, El Financiero, Sheinbaum, Xochitl Galvez, Andres Manuel Lopez Obrador, Galvez, Samuel Garcia, Lopez Obrador, Sheinbaum's, Dave Graham, Jonathan Oatis Organizations: Mexico City Mayor, Regeneration, REUTERS, MEXICO CITY, Nuevo, ' Movement, Thomson Locations: Mexico City, Mexico, MEXICO, Nuevo Leon, Europe

☆ Mexico says Tesla factory still coming, vows infrastructure spending
▼ + stars: | 2023-10-19 | by ( Daina Beth Solomon | ) www.reuters.com time to read: +3 min

A view shows the urban area of the municipality of Santa Catarina near the land where Tesla has indicated it could build a new gigafactory, in Santa Catarina, on the outskirts of Monterrey, Mexico February 28, 2023. Tesla announced the planned factory in the northern Mexican state in March, without providing a timeline for construction. After a fraught process for Tesla to confirm its Mexico plans, investors are closely watching the automaker's next steps in the country. Santa Catarina's Mayor, Jesus Nava, said local officials were beginning to improve infrastructure in the area where Tesla is set to build the factory. Musk on Wednesday said the company was "laying the groundwork to begin construction" in Mexico but did not yet have more definite plans.

Persons: Tesla, Daniel Becerril, Elon Musk, Musk, Jesus Nava, Jay Truesdale, Samuel Garcia, Daina Beth Solomon, Jamie Freed Organizations: REUTERS, MEXICO CITY, Mexico's, Santa Catarina's Mayor, Tesla, Nuevo Leon, Shanghai, Thomson Locations: Santa Catarina, Monterrey, Mexico, MEXICO, Leon, Mexican, Asia, United States, Santa

"If interest rates remain high ... it's that much harder for people to buy the car. The price of the popular Model Y SUV was "almost unchanged" for consumers even after Tesla's price cuts, Musk said, accounting for higher financing costs. Reuters GraphicsPRICE CUTSTesla's aggressive price cuts this year have battered its gross margin even as it faces stiff competition in China from local automakers. Still, it stuck to its annual production target of 1.8 million cars, a sign that the price cuts were buoying demand to an extent. In the second quarter, Tesla had posted a gross margin of 18.2%.

Persons: Matthew Childs, Elon Musk, Musk, Tesla, Jesse Cohen, Akash Sriram, Hyunjoo Jin, Joe White, Abhirup Roy, Sayantani Ghosh, Sriraj Kaluvilla, Deepa Babington, Jamie Freed Organizations: REUTERS, General Motors, Chrysler, Reuters, Visible Alpha, Revenue, Thomson Locations: London, Britain, Mexico, Nuevo Leon, China, Bengaluru, Hyunjoo, San Francisco, Detroit

☆ Chinese suppliers to invest in Mexican state where Tesla planning factory - state officials
▼ + stars: | 2023-10-18 | by ( ) www.reuters.com time to read: 1 min

The logo of car manufacturer Tesla is seen at a dealership in London, Britain, May 14, 2021. REUTERS/Matthew Childs/File Photo Acquire Licensing RightsMEXICO CITY, Oct 18 (Reuters) - Chinese suppliers for Tesla will invest in the northern Mexican state of Nuevo Leon where the automaker is planning to build a new factory, state officials said on Wednesday. The planned investments include $700 million from Ningbo Tuopu Group and $260 million from Hesai Technology, a state official said. Reporting by Daina Beth SolomonOur Standards: The Thomson Reuters Trust Principles.

Persons: Matthew Childs, Daina Beth Solomon Organizations: REUTERS, MEXICO CITY, Tesla, Ningbo Tuopu Group, Hesai Technology, Thomson Locations: London, Britain, MEXICO, Mexican, Nuevo Leon, Ningbo

☆ Chinese Tesla suppliers to invest nearly $1 bln in northern Mexico - state officials
▼ + stars: | 2023-10-18 | by ( ) www.reuters.com time to read: +2 min

REUTERS/Matthew Childs/File Photo Acquire Licensing RightsMEXICO CITY, Oct 18 (Reuters) - Two Chinese suppliers for Tesla will invest nearly a billion dollars in the northern Mexican state of Nuevo Leon where the automaker is planning a new factory, Nuevo Leon Governor Samuel Garcia said during a trip to Shanghai on Wednesday. The planned investments include $700 million from Ningbo Tuopu Group (601689.SS) and $260 million from Hesai Technology , a Nuevo Leon representative said. Ningbo Tuopu Group develops shock absorption products and other auto parts, while Hesai Technology makes lidar light sensors for applications like autonomous vehicles and robots. Ningbo is expected to create some 10,000 jobs, and Hesai, up to 4,000, Nuevo Leon officials said. Tesla has not yet begun construction in Nuevo Leon, and its timeline for starting production is unclear.

Persons: Matthew Childs, Samuel Garcia, Tesla, Garcia, Daina Beth Solomon, Raul Cortes, Kylie Madry, Stephen Eisenhammer Organizations: REUTERS, MEXICO CITY, Tesla, Nuevo Leon, Ningbo Tuopu Group, Hesai Technology, Ningbo Tuopu, Hesai, Nuevo, Thomson Locations: London, Britain, MEXICO, Mexican, Nuevo Leon, Nuevo, Shanghai, Ningbo, Austin , Texas, U.S, Mexico, Austin

"I don't think the price cuts are over, mainly for the reason that demand is still weak," said Thomas Martin, senior portfolio manager at Tesla shareholder Globalt Investments. Tesla has already cut U.S. prices of its Model 3 compact sedan and Model Y SUV in October. The slump will continue into the fourth quarter and margins could dip below 15%, said Wells Fargo analyst Colin Langan. However, that likely falls short of offsetting the price cuts," Langan said. Tesla slashed the technology's price by a fifth in August and analysts said that more cuts could be on the cards.

Persons: Florence, China's, Thomas Martin, Elon Musk, Tesla, Wells, Colin Langan, Langan, Musk, Gary Black, Akash Sriram, Aditya Soni, Sayantani Ghosh, Arun Koyyur Organizations: Fair for Trade, Services, REUTERS, HK, Globalt Investments, Reuters, Visible Alpha, Fund, Reuters Graphics Reuters, Thomson Locations: Beijing, China, Europe, MEXICO, Nuevo Leon, Mexican, Bengaluru

The logo of Mexico's Central Bank (Banco de Mexico) is seen at its building in downtown Mexico City, Mexico February 28, 2019. Mexico could lure annual foreign direct investment flows of $55 billion to $60 billion if it takes better advantage of nearshoring, up from $36 billion in 2022, she said. That has dampened expectations Mexico could benefit from increased investment in semiconductors in North America. Mexico still faces competition to win investment from both North and Central America, plus Colombia, he said. "I don't think this measure is a game-changer to persuade those who have doubts," said Vejar.

Persons: Daniel Becerril, Gabriel Yorio, Andres Manuel Lopez Obrador, Gabriela Siller, Siller, Yorio, Lopez Obrador, Ramse Gutierrez, Franklin Templeton, Tesla, Carlos Vejar, Valentine Hilaire, Dave Graham, Anthony Esposito, Grant McCool, Sonali Paul Organizations: Mexico's Central Bank, Banco, REUTERS, MEXICO CITY, Banco Base, Central America, Thomson Locations: Banco de Mexico, Mexico City, Mexico, MEXICO, Asia, China, North America, Canada, United States, Franklin Templeton Mexico, Nuevo Leon, Mexican, North, Central, Colombia

☆ Tesla factory permits almost ready in Mexico, as state launches infrastructure work
▼ + stars: | 2023-10-05 | by ( Daina Beth Solomon | ) www.reuters.com time to read: +3 min

REUTERS/Daniel Becerril/File Photo Acquire Licensing RightsMEXICO CITY, Oct 5 (Reuters) - Final permits for Tesla to build an electric-vehicle (EV) factory in the northern Mexican state of Nuevo Leon could be ready in weeks and the local government is beginning infrastructure work requested by the company, a senior official said on Thursday. Tesla (TSLA.O) in March announced plans to open a major plant in Nuevo Leon, its first in Mexico, which has also attracted EV investments from other automakers seeking to meet ambitious production targets. "We are very appreciative of their efforts to enable the permits and sustainable infrastructure necessary," he said. The so-called "Gigafactory" is set to bring in an estimated $15 billion over the next two years through Tesla and its suppliers, Nuevo Leon Governor Samuel Garcia said last month. The state has called for more investment in health, education, roads and basic services to accommodate the expected growth.

Persons: Tesla, Daniel Becerril, Ivan Rivas, Elon Musk, I'm, " Rivas, Rivas, Nuevo Leon, Rohan Patel, Tesla's, Samuel Garcia, Daina Beth Solomon, Kylie Madry, Rod Nickel Organizations: REUTERS, MEXICO CITY, Tesla, Nuevo Leon's, Reforma, Nuevo, Twitter, Reuters, Nuevo Leon, Thomson Locations: Monterrey, Saltillo, Santa Catarina, Mexico, MEXICO, Mexican, Nuevo Leon, Nuevo

☆ Mexico's Sheinbaum handily leads 2024 presidential race, poll shows
▼ + stars: | 2023-10-04 | by ( ) www.reuters.com time to read: +1 min

Former Mexico City Mayor Claudia Sheinbaum gestures as she speaks on the day she is certified as presidential candidate for the ruling National Regeneration Movement (MORENA) party during a ceremony, in Mexico City, Mexico September 10, 2023. REUTERS/Henry Romero/File Photo Acquire Licensing RightsMEXICO CITY, Oct 4 (Reuters) - Mexico's Claudia Sheinbaum, the presidential candidate for the country's ruling leftist party and a close ally of the current president, is now expected to easily win the 2024 election, an opinion poll showed on Wednesday. Sheinbaum, candidate for the National Regeneration Movement (MORENA) founded by President Andres Manuel Lopez Obrador, nabbed 50% of support in a four-way race of top contenders, according to a survey by polling firm Buendia & Marquez and newspaper El Universal. Sheinbaum, 61, was until recently mayor of Mexico City. Reporting by Kylie Madry; Editing by Aurroa EllisOur Standards: The Thomson Reuters Trust Principles.

Persons: Mexico City Mayor Claudia Sheinbaum, Henry Romero, Claudia Sheinbaum, Sheinbaum, Andres Manuel Lopez Obrador, Marquez, Lopez, Xochitl Galvez, Mexico's, Samuel Garcia, Eduardo Verastegui, Kylie Madry, Aurroa Ellis Organizations: Mexico City Mayor, Regeneration, REUTERS, MEXICO CITY, National Regeneration, El Universal, Nuevo Leon, Thomson Locations: Mexico City, Mexico, MEXICO, MORENA

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