Published on 02nd March 2023
Tesla Officially announced "Gigafactory Mexico" to build its next-gen platform at Monterrey in Nuevo León, Mexico to support new EV models. The vicinity of the location to Gigafactory Texas and Tesla headquarters makes it perfect to set up a new EV plant. With this move, the world's largest EV maker, Tesla, has joined the league of US automobile companies ramping up their presence in the south of the US border.
Earlier the news of the Tesla factory in Mexico has been confirmed by Mexico President Andres Manuel Lopez Obrador and now Tesla has affirmed the news by its official sources. As per the announcement the initial investment may reach USD 1 billion which may further increase to USD 10 billion in later stages. As the global EV market continues to rise, Tesla may add one million vehicles annually from this new plant to its total production capacity to meet the increasing demand for electric vehicles in the coming years. As per the Mexican President, this move is a significant step towards boosting investment and creating thousands of jobs.
By producing cars in Mexico (& Canada), US car makers can still be qualified for the subsidy announced by US President Joe Biden.
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