How Chinese EVs Are Taking Over Mexico

Mexico has quickly become a major market for Chinese auto makers. Last year, China was the leading car supplier to Mexico, exporting $4.6 billion worth of vehicles. Some Chinese electric vehicle makers – including Tesla-rival BYD – have been looking for a further foothold in North America by exploring factory sites in Mexican states Durango, Jalisco, and Nuevo Leon. For Mexico, the foreign investment is an economic boost and some local governments have offered incentives to Chinese companies exploring factory options. But U.S. officials worry this could be a part of a larger strategy from Chinese auto makers to skirt trade restrictions and enter the American market. Experts say this leaves Mexico in a difficult position of maintaining its crucial relationship with the U.S. without being overly friendly to Chinese investment. Now at the center of a trade war between two major powers, how has Mexico quietly become a hot spot for Chinese EV companies and will the country become a “backdoor” for these cars to drive into the U.S.? Chapters: 1:32 How Chinese EVs are taking over Mexico 1:36 Chapter 1 – China’s entry to emerging markets 5:12 Chapter 2 – Mexico’s auto paradise 8:30 Chapter 3 – Highway to the future Produced by: Merritt Enright Edited by: Evan Lee Miller Animation: Christina Locopo, Jason Reginato Supervising Producer: Jeniece Pettitt » Subscribe to CNBC: » Subscribe to CNBC TV: About CNBC: From ’Wall Street’ to ’Main Street’ to award winning original documentaries and Reality TV series, CNBC has you covered. Experience special sneak peeks of your favorite shows, exclusive video and more. Want to be more successful and confident with your money? Take CNBC Make It’s new online course. Our expert instructors will help you master your money and discover practical strategies to boost your savings, reduce debt, and grow your wealth—in a way that works best for you. Enroll in “Achieve Financial Wellness: Be Happier, Wealthier & More Financially Secure“ to start your journey to financial freedom today! Get a 30% discount with the coupon code EARLYBIRD until September 2, 2024: Connect with CNBC News Online Get the latest news: Follow CNBC on LinkedIn: Follow CNBC News on Instagram: Follow CNBC News on Facebook: Follow CNBC on Threads: Follow CNBC News on X: Follow CNBC on WhatsApp: #CNBC #evs #tesla #China How Chinese EVs Are Taking Over Mexico