In a skillet add the oil and onions and sauté for about 5-7 minutes over medium-high heat until the onions are translucent.
Add the minced garlic clove and cook for 1 minute.
Add the evaporated milk and start adding the diced cheese starting with the Velveeta, slowly whisking until fully incorporated before adding more cheese.
Reduce the heat to medium and continue adding the cheeses and whisking until you create a smooth sauce.
Add the diced Hatch Chiles and remove from the heat. Add salt and pepper as needed.
Serve with lime tortilla chips and enjoy immediately.
Notes
Keep the dip warm in a slow cooker or over the stove top in the lowest setting.If the dip starts getting too thick, add a splash of milk and stir until you achieve the desired consistency.