Tesla’s next factory will be in Mexico, president confirms

Tesla plans to construct a brand new factory in Monterrey, Mexico, the nation’s president mentioned Tuesday, confirming hypothesis that the automaker would arrange store there.

Notably, Tesla has agreed to make use of recycled water, addressing a significant environmental concern in northern Mexico, President Andrés Manuel López Obrador mentioned.

Tesla will share extra details about the brand new factory throughout its investor day occasion scheduled for Wednesday afternoon, mentioned López Obrador, who’s also referred to as AMLO.

Tesla CEO Elon Musk is predicted to current the long-awaited and infrequently teased Grasp Plan 3 in the course of the firm’s investor day that will be held on the firm’s Gigafactory Texas situated close to Austin. Traders will be capable of see its manufacturing line and talk about with its management group matters like the corporate’s long-term growth plans, era 3 platform and capital allocation, according to the company.

Tesla has a number of factories in the USA, together with in Fremont, California, the place autos are assembled; a plant close to Sparks, Nevada, which is a joint challenge with Panasonic; and its headquarters in Austin, Texas. Tesla additionally has factories close to Berlin and Shanghai.

Mexico, notably states close to the U.S. border, has been a hotspot for automotive manufacturing for many years. U.S. automakers Ford and GM, German automaker Volkswagen and Japanese firms Honda, Nissan and Toyota have automobile meeting crops in Mexico. GM, Kia and Stellantis have factories in Monterrey. A number of automotive suppliers, together with Continental and Faurecia, have crops there, making Mexico important to the business’s provide chain community.

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