2023-11-12 03:50:18
LG Energy Solutions Ltd.’s lithium battery plant, built five years ago in Wrocław, in the southwest of the country, is the largest facility of its kind in Europe and employs more than 7,000 people.
When the expansion, which costs 500 million euros ($529 million), is completed in 2025, the factory will produce a number of batteries sufficient to power one million externally chargeable cars annually.
If you drive your car south of Wrocław for regarding an hour, and in Nysa specifically, there is a joint project between the Belgian company “Umicore” and “Volkswagen” that is supposed to pump 1.7 billion euros into a facility that will produce cathode materials (the negative electrode), which is an essential component in batteries. Mercedes is building an electric vehicle factory nearby at a cost exceeding one billion euros.
Mexico: A side door to the United States
This year, Mexico displaced China as the largest exporter of goods to the United States. But that doesn’t tell the full story of how its economic relationship with its giant neighbor, and the rest of the world, has changed.
Since 2017, the value of Mexico’s imports from China has been growing faster than its exports to the United States, in nominal terms.
The reason for this is that most of the manufacturers currently opening factories in the border states of Mexico are Chinese companies, selling everything from car components to furniture, with a special focus on the American market.
The Federation of Special Industrial Zones of Mexico surveyed its members earlier this year and discovered that over the next two years they expect a fifth of new businesses opening to be Chinese.
Read also: Chinese companies circumvent US customs duties through Mexico
In April, TDI Manufacturing Mexico, a spin-off of Zhejiang Yinlun Machinery Co., a Chinese supplier of cooling systems for cars and heavy equipment, opened a facility with all Chinese residents, on an area of approximately 14,000 square meters (152,000 square feet) in the Hovosan industrial park, near Monterrey, Mexico.
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