Investment Overview and Sector Distribution
Since January 2023 to February 2025, Mexico has received 346 investment announcements totaling an expected $78,252 million, according to RCPH & Asociados S.A. de C.V., a specialized consulting firm.
The period includes the highest investor enthusiasm due to the global manufacturers’ relocation, known as nearshoring, taking advantage of Mexico’s geographical and commercial proximity to Canada. The automotive sector, accounting for 35% of the total ($27,403 million), has been the most attractive. The energy sector follows with 25% ($19,713 million), while the real estate sector has 13% ($10,456 million) and technology sector holds 7% ($5,813 million).
Investment Trends and Recent Developments
February 2024 marked the highest investment expectations in Mexico, with announcements totaling $6,273 million. However, a slowdown in announcements was observed until 2025, with only 19 relocation-related announcements worth $3,016 million.
Luis Felipe Alcántara, RCPH’s analyst, attributes the decline in investment announcements to uncertainty caused by US President Donald Trump’s protectionist policies. He notes that the arising uncertainty over tariff measures, rather than the measures themselves, has led to this situation. Alcántara anticipates that investments will gradually resume, especially if the US-Mexico-Canada Agreement (T-MEC) is confirmed.
Impact of Trade War on Investments
According to the investment tracker, four companies have confirmed they will not complete their investments in Mexico, reducing the total by $10 billion:
- Tesla: Megafactory (similar to Tesla)
- BYD: Changan (SLP)
- Changan: SLP
- NT Motor
These companies usually do not formally announce their withdrawal; they simply let time pass without causing further disturbance. Alcántara believes that the preferential treatment the US is offering Mexico in tariffs, excluding it from reciprocal measures, could fuel a second wave of nearshoring or “nearshoring 2.0”.
Sustained Investment Announcements
Mota Engil
The Portuguese industrial conglomerate announced a $3,000 million investment in a fertilizer plant in Poza Rica, Veracruz. The project will be developed in three phases: engineering viability studies (4-6 months), construction (43 months, $1,200 million investment), and technical operation of the plant for 20 years.
Toyota
The Japanese automaker confirmed a $1,450 million investment in its Baja California and Guanajuato plants for producing the new generation of Tacoma pickups and Tacoma hybrid electric vehicles (HEV). The plant modernization aims to produce more efficient and sustainable vehicles while integrating innovations for resource optimization and CO2 emission reduction.
Schneider Electric
Schneider Electric inaugurated its first intellectual manufacturing hub in San Pedro Garza García, promoting national creativity and talent beyond traditional manufacturing. The investment is $1,300 million for construction, employing 550 collaborators providing global and regional business development, support, digital design, finance, sales, and human resources services.
Bosch
German company Bosh Mexico opened a new plant in Salinas Victoria, Nuevo León, with a $5,200 million investment. The factory is designed for an annual production of up to 600,000 refrigerators, creating jobs for over 1,500 people. It features a sustainable project, being carbon neutral.
Traxión
Transportation and logistics company Traxión reported a 22% increase in its 2024 investment due to the relocation of businesses. New industries are particularly noticeable in northern and Bajío states, according to Enrique Llaca, the company’s corporate director.
Siemens
The German technology company, focusing on infrastructure, mobility, and medical attention, confirmed a $2,000 million investment to expand its factories in Nuevo León, Chihuahua, and Querétaro to meet the growing demand for industrial operations due to nearshoring. Alejandro Preinfalk, CEO for Mexico, Centroamérica, and the Caribbean, stated that three of its five factories in Mexico are already experiencing positive nearshoring impacts.
Fibra Nova
Specialist in industrial plot development under the BTS (Build to suit) scheme for light manufacturing, Fibra Nova maintains its investment project in Chihuuahua, specifically Ciudad Juárez, with an average duration of 10 years. Its real estate trust projects sum up to 53,000 square meters of rentable space and predict $7.4 million in revenue.
Evergo
Dominican Republic’s electric vehicle charging platform Evergo announced the integration of X Stop Travel Center to install 10 charging stations at highway points in San Luis Potosí, Jalisco, Querétaro, Guanajuato, and Tamaulipas. The investment exceeds $52 million, with each station featuring semi-fast chargers (19 kW) and fast chargers (50 kW).
Citic Dicastal
Chinese company Citic Dicastal invested $100 million in Ramos Arizpe, Coahuila, where it inaugurated its first aluminum rim manufacturing plant. This investment is expected to create 1,200 jobs. Additionally, they announced plans for another $500 million investment to open a components plant.
Solarever Group
Chinese solar panel manufacturer Solarever Group announced plans to build a battery manufacturing plant for electric vehicles in Zcoalco de Torres, Jalisco. The $1,000 million investment will be distributed over the next four years.
NIDEC
Japanese alternator manufacturing leader NIDEC announced a $23 million investment to expand operations in Reynosa, Tamaulipas. The expansion will boost the manufacturing sector, creating 384 jobs out of the current 2,000 employees in two plants operating in the border state.
Makino
Japanese CNC machinery manufacturer Makino announced the establishment of a technology innovation center in Querétaro. The $20 million investment is expected to generate 200 jobs, with construction starting September 30 in Querétaro’s Parque Tecnológicos del Marqués, set to commence operations in September 2025.
