The steel industry in Mexico said it is prepared to meet the demand for steel that will be generated by the installation of a production plant of the electric vehicle manufacturer Tesla Inc, the president of the Association for Iron & Steel Technology, Mexico chapter (AIST Mexico), Stefano Maggiolino, told the media.
“The industry reacts very quickly, almost in sync. If there is any strong investment in the region (northeast) or in the country, it is also because investors know that they will have the supply chain, talent and distribution," Maggiolino responded to an express question about the demand for steel that Tesla's arrival will generate in Mexico.
Maggiolino spoke at a press conference to discuss the 2023 International Congress and Exhibition of the Steel Industry, which will take place in Monterrey, Nuevo Leon next month.
The president of AIST Mexico, Stefano Maggiolino is the CEO of the company Tenova HYL, which is a unit of the giant Italian producer of capital goods for the mining and steel industry.
In recent weeks, the financial press in Mexico has reported that Tesla will invest up to $10.0 billion in the construction of a new plant in Mexico.
Even Mario Maldonado, a journalist for the newspaper El Universal, host of a financial program on Televisa television and announcer on Heraldo Radio, reported that Tesla will make the announcement of the investment in Mexico on March 1 on Tesla Investor Day.