Tesla to build new plant in Mexico worth over US$5bil FMTNews FMTBusiness
Tesla also has car factories in the US states of California and Texas as well as in Berlin and Shanghai.
The Model Y is Tesla’s best-selling SUV. Tesla will likely give details of its plans today, Mexico’s government said. Musk has said for months that the EV maker will announce a new factory, and he is set to discuss expansion plans, next-generation vehicle platforms and other topics at an “Investor Day” event today. The company is also expected to give details of a new, cheaper model of vehicle at the event.
Mexican foreign minister Marcelo Ebrard hailed the news on Twitter, calling it the result of 14 months of “patient labour.” The discussions around Tesla have been a major test of how investors respond to Lopez Obrador’s resource nationalism and how he influences the decision-making process on investments, which have sparked misgivings among business groups.
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