Mexican economy chief says wants to sound out Musk on Tesla plant plans

MEXICO CITY (Reuters) - Mexico's Economy Minister Ebrard will try to meet soon with billionaire and Tesla (NASDAQ:TSLA )'s chief executive Elon Musk to determine his plans for an electric car factory in northern Mexico, he told local radio on Thursday.

Ebrard is a former foreign minister and veteran political operator, and reviving plans for a so-called Tesla gigafactory in northern Nuevo Leon state would mark a major early victory for the government of President Claudia Sheinbaum, who took office last month.

"I'm going to set up a meeting with (Musk) soon so that he tells me exactly what he's thinking and see what we can do so this project moves forward," Ebard told local radio broadcaster Radio Formula.

Last April, Tesla announced that it will use its existing factories to build new and more affordable vehicles, leaving investments in potential new factories, including in Mexico, unlikely in the near term.



U.S. President-elect Donald Trump's victory in Tuesday's election also adds new complications to the plans for Mexico, possibly shifting the plant to the United States.

During his first term as president, Trump often pressured U.S. companies to maximize their domestic manufacturing operations over overseas plants.

Source: Investing.com