Tesla May Soon Announce Construction of Factory in Mexico with Initial Investment Up to $1B

Tesla May Soon Announce Construction of Factory in Mexico with Initial Investment Up to $1B

Image: Tesla

Tesla may soon announce the construction of a factory in Mexico with an initial investment of up to $1 billion, several local media reported. The rumor about a factory in the country emerged last week and continues to gain momentum.

According to local media reports, Tesla is due to announce the construction of a new Gigafactory in Mexico as early as this week. However, it is mentioned that the announcement may be delayed until after the New Year holidays, according to the Mexican edition of Reforma. Reports that surfaced last week indicated that the announcement was due sometime in early 2023 after the paperwork was supposed to be completed in the coming weeks.

Local media have reported that Tesla intends to make an initial investment of between $800 million and $1 billion in a factory planned to be built in the northern state of Nuevo León. In October, Elon Musk visited the state and met with government officials.

According to a Mexico News Daily report, the documents they reviewed showed that the factory would “assemble cargo trucks,” which in the case of Tesla could mean the production of Semis. But, Reforma sited the source, that said that initially the factory will produce various components for existing Tesla models, and in later phases of expansion it will start producing new model, at a lower cost than the current ones. (H/t @Berlinergy/Twitter)

The property referred to in the document viewed by Milenio is located in the strategic quadrant of the municipality of Santa Catarina, near kilometer 51 of the Monterrey-Saltillo highway and a 38 minute drive from the center of Monterrey, Nuevo León. The location is a seven-hour drive from Tesla's headquarters in Austin, Texas. According to a comment from an anonymous source, the land has already been purchased.

© 2022, Eva Fox | Tesmanian. All rights reserved.


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Article edited by @SmokeyShorts; follow him on Twitter

About the Author

Eva Fox

Eva Fox

Eva Fox joined Tesmanian in 2019 to cover breaking news as an automotive journalist. The main topics that she covers are clean energy and electric vehicles. As a journalist, Eva is specialized in Tesla and topics related to the work and development of the company.

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