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Mexican president courts private investment for new state lithium company

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Mexican president courts private investment for new state lithium company.

Mexican President Andres Manuel Lopez Obrador on Wednesday urged the private sector to work with his new, which aims to position Mexico as a key player in the electric car battery market.

Mexico does not yet have commercial lithium production, though close to a dozen foreign companies hold contracts to explore potential deposits. Lopez Obrador said that Pablo Taddei, son of the federal welfare ministry’s delegate in Sonora, Jorge Taddei, will direct operations of the lithium company after he finishes his doctorate in November.

Industry experts told Reuters this month that state involvement in Mexico’s lithium business would likely put the brakes on private investment.

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