Without clean energy, Mexico will cease to be an investment destination, says GM president

Mexico will cease to be a destination for investment without a legal framework focused on the production of renewable energy, warned José Francisco Garza Rodríguez, president and CEO at General Motors of Mexico.

“If there is no legal framework in Mexico, a structural framework focused on the production of renewable energies, General Motors will not stop in its mission of being zero emissions and, unfortunately, if the conditions do not exist, Mexico will no longer be a destination for investment, “he said this Friday at the annual convention of the Mexican Institute of Finance Executives (IMEF).

He explained that currently only 27% of the consumption of electric power of the automotive comes from renewable energies, but the goal is for it to be 100% on a global scale by 2040.

“We are working very closely and raising our voices. We are not the only automaker with zero emissions goals. We are going to fulfill it, and if the conditions are not on the table, I believe that Mexico will not be an investment destination in the short and medium term, ”said Garza Rodríguez.

Read also: Mexico has a “small government, with small revenues”: Gurría Treviño

“That dollar that was going to be invested in Mexico would go to the United States, Canada, Brazil, China or Europe. It would be a shame if Mexico does not contemplate seeing a country with clean energy, that investment does not come, “he added.

He explained that GM’s long-term mission is to see a world with zero emissions and for that it needs to invest in the electrification of its product portfolio, transform electric vehicles to self-employed, while the manufacturing cycles must be zero emissions as well as the supply base.

The automotive sector takes five to seven years in advance to make the decision to invest in an electric car plant, he said.

Read also: General Motors announces technical stoppage at the Silao plant due to shortage of semiconductors

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