Puma’s Historic Rivalry With Adidas Enters a New Era as Anta Deal Signals Turnaround Push 
Apple Faces Margin Pressure as Memory Chip Prices Surge Amid AI Boom 
Asian Currencies Trade Flat as Dollar Retreats After Fed Decision 
Microsoft AI Spending Surge Sparks Investor Jitters Despite Solid Azure Growth 
OpenAI Reportedly Eyes Late-2026 IPO Amid Rising Competition and Massive Funding Needs 
Trump Threatens 50% Tariff on Canadian Aircraft Amid Escalating U.S.-Canada Trade Dispute 
Thailand Moves to Regulate Gold Trading to Curb Baht Strength and Support Economic Growth 
CSPC Pharma and AstraZeneca Forge Multibillion-Dollar Partnership to Develop Long-Acting Peptide Drugs 
Tesla Q4 Earnings Beat Expectations as Company Accelerates Shift Toward AI and Robotics 
Advantest Shares Hit Record High on Strong AI-Driven Earnings and Nvidia Demand 
Wall Street Slips as Tech Stocks Slide on AI Spending Fears and Earnings Concerns 
American Airlines Plans Return to Venezuela Flights After U.S. Lifts Ban 
Dollar Struggles as Policy Uncertainty Weighs on Markets Despite Official Support 
Elon Musk’s SpaceX Explores Merger Options With Tesla or xAI, Reports Say 
Oil Prices Surge Toward Biggest Monthly Gains in Years Amid Middle East Tensions 
Pentagon and Anthropic Clash Over AI Safeguards in National Security Use 
Canada’s Trade Deficit Jumps in November as Exports Slide and Firms Diversify Away From U.S. 
General Motors announced on Thursday, April 29, that it will be investing $1 billion to produce electric vehicles at a plant in Mexico. GM stated that it would build a new painting facility that is expected to start operating in June at Ramos Arizpe, a city in Mexico.
GM’s plans in the Mexican production site
The building is part of General Motor’s preparation for the production of its own EVs that will begin in 2023. The said site in the Mexican state is a complex that currently has facilities that assemble conventional internal-combustion vehicles such as the Chevrolet Blazer and Equinox SUV models.
As per Reuters, the company’s expansion in Ramos Arizpe will also include provisions to make batteries and other types of electronic parts. The carmaker already has four plants for EV production and these are located in the U.S. and Canada. The expansion in Mexico is also part of GM’s move to halt its sales of gas-powered vehicles by 2035.
"I'm sure this investment will contribute to continue boosting Mexican manufacturing while bringing development to the region, the industry and the country," GM’s Mexican unit president, Francisco Garza, said via webcast this week.
Criticisms over GM’s new investment plan
While this is a big plan for General Motors, it did not get good feedback from the United Auto Workers (UAW). The group criticized the automaker’s decision to build its EVs in Mexico because the company could have employed the members of the union in the U.S. instead.
Moreover, the workers’ group pointed out that the U.S. is planning to implement new incentives for electric vehicle makers in the country, but despite this, GM still opted to operate in Mexico.
“At a time when General Motors is asking for a significant investment by the U.S. government in subsidizing electric vehicles, this is a slap in the face for not only UAW members and their families but also for U.S. taxpayers and the American workforce,” UAW vice president of the GM division, Terry Dittes, wrote in a press release.
He further explained that GM vehicles that are manufactured in Mexico are being sold in the U.S., so it is only right that the production should just be in the country and employ American workers. “That is why our nation is investing in these companies. Taxpayer money should not go to companies that utilize labor outside the U.S. while benefiting from American government subsidies,” Diites concluded his statement.
