After Tesla Snub, Mexico Unveils Plans For Own Electric Vehicle [Barron's]
General Motors Company (GM)
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The Mexican government said the cars would be manufactured through a public-private partnership and would cost between 90,000 and 150,000 pesos (between $4,400 and $7,400). "It will be the first Mexican manufacturer of mini vehicles, developed by Mexican engineering," Roberto Capuano, the head of the company set up to manufacture the cars, Olinia, told reporters at President Claudia Sheinbaum's daily press conference. Capuano said the cars would offer Mexicans an alternative to foreign electric vehicle brands, which he called "expensive and out of reach of Mexican families." He said the government was currently looking for an assembly site, but that it hoped to roll out the first model by the start of the 2026 World Cup, which kicks off in Mexico City on June 11 that year. In July last year, Mexico suffered bitter disappointment after Musk suspended plans to build a massive new electric vehicle plant near the northern city of Monterrey after Trump vowed "heavy" tariffs on Mex
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