Posted on 07 Sep 2023
Mexican officials visited Beijing on 5 September for the Sino-Mexican Business Cooperation Meeting to strengthen the bilateral relationship between the countries. The visiting representatives introduced the perspective of the new energy industry in Mexico and proposed incentive policies to promote NEV collaboration, Kallanish learns from China Industrial Association of Power Sources (CIAPS).
The representatives included Francisco Acuna, chairman of Sustainable Development Committee of Sonora, Mexico, and Sergio Kwiatek, political counsellor of the Mexican Embassy in China. Besides representatives from CIAPS, some representatives of Chinese enterprises including Tianjin Lishen Battery and Jeve Battery also joined discussions on investment and cooperation in the new energy field.
At the meeting, Acuna disclosed that the Mexican federal government will offer up to 3-6 years of investment tax exemption to investors, whilst the state government could provide 10 years of salary tax exemption after individual consideration.
“China is Mexico’s second-largest trading partner in the world. The automobile industry is Mexico’s pillar industry, and China is at the forefront of the world in the development of renewable energy, especially in the fields of NEVs, energy storage and batteries,” adds Acuna. “Mexico pays high attention and hopes the two countries can further strengthen collaborations in these fields as it welcomes Chinese enterprises to invest and construct factories in Mexico.”
Kwiatek says the governor of Sonora state will visit China later this month to further talk about “related issues.” He did not address the negotiations between Mexico and Ganfeng Lithium, the operator of the Sonora lithium project in northeast Mexico.
The North American government decided to cancel nine lithium mine concessions related to the project following its lithium nationalisation in February. Ganfeng said recently the cancellations aren’t final and that, at this point, it is unclear whether the changes may lead to asset impairment losses and other negative impacts. The company didn’t seem to be involved in this week’s meeting in Beijing.
Source:Kallanish
