Amid plans of swapping out imports to Mexico, GM is also focusing on the development of betterment of electric vehicle battery cells. The automaker is currently working with ForgeNano, a materials science startup, to find novel methods that could enhance the lifetime and performance of EV battery cells.

Mexico's deputy economy minister said on Wednesday that the Mexican government is in talks with General Motors, Foxconn, DHL, Stellantis and Intel to identify what products can be produced locally instead of imported from Asia.

U.S. automaker General Motors and Taiwanese tech giant Foxconn will announce plans to swap out imports to Mexico for production in the country later this month, the nation's deputy economy minister said on Wednesday.

In an effort to reduce imports into the country from Asia and increase domestic manufacturing, Mexico’s deputy head of industry and trade, Vidal Llerenas, is in talks with several industrial giants including General Motors (NYSE:GM),