Mexico will receive investment from South Korea and China for lithium batteries: SRE

MEXICO CITY.-Mexico will receive investments from South Korea and China to start the production of lithium batteries in the country between the third and fourth quarters of 2023, revealed this Thursday the head of the Ministry of Foreign Affairs, Marcelo Ebrard.

“We have prepared (investments) for 2023 from South Korea, from China and a program agreed with the USA to start producing batteries in Mexico”, he commented in an approach with the media after a meeting of businessmen from the Pacific Alliance.

The Mexican foreign minister said he could not specify the amounts of the investments as it is information from private businesses.

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However, he announced that the battery manufacturing industry in Mexico is projected to start in the third or fourth quarter of 2023.

Mexico nationalized lithium last Aprilbut even so, it has been open to foreign investment.


Photography: EFE

Recently, Mexico and the United States agreed to promote the “sound plan”, in reference to the northern state of the country with one of the largest lithium deposits in the world, according to the Mexican government.

The plan encourages Mexico’s energy transition through four axes: the exploitation of lithium and electromobility, the liquefaction of natural gas, the generation of photovoltaic energy and the conversion of the port of Guaymas into an international charging point.

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The Mexican foreign minister recalled that he presented this same plan at the most recent conference on the climate change of the United Nations (COP27), in Egypt.

Mexico is committing to make a US-backed investment of $48 billion to increase clean energy and accelerate electromobility,” he said.

In said “Plan Sonora” it is intended to replicate the photovoltaic plant of Puerto Penasco, that the Government promises that it will be the largest in Latin America, towards other entities of the Country.

In this solar plant, it estimates the investment of more than 1.6 billion dollars and a complex of 2 thousand hectares with solar panels which will serve to supply energy to millions of homes in northwestern Mexico and even export electricity to California in the United States.

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