Mexico: Tesla and its suppliers to invest $15 billion in new factory

Samuel Garcia, governor of the Mexican state of Nuevo León, said Tesla and its suppliers plan to invest $15 billion in the Gigafactory in Mexico over the next two years, a figure that is three times the amount previously disclosed.

In March of this year, Tesla CEO Elon Musk announced that Tesla would build a super factory in the northern Mexican state of Nuevo Leon, and this factory will be used to produce Tesla’s next generation This first-generation model is an important part of the company's expansion of its global presence.

Tesla did not disclose the specific details of its investment in the Mexican Gigafactory at the time. However, Mexican officials said they expected to invest $5 billion (about 36.5 billion yuan) in the upcoming factory

According to Reuters, Samuel Garcia said at the latest event that investment in the Mexican Gigafactory is growing, "Tesla and its suppliers alone will invest $15 billion in two years."

He also pointed out, The funding will require Nuevo León to increase investment in projects such as highways and other public works

Before Tesla announced a factory in Mexico earlier this year, BMW, General Motors and Ford, among others, Established car companies have expressed their intention to start or strengthen electric vehicle production in Mexico. With Tesla joining the ranks, Nuevo León could become one of the epicenters of the electric vehicle revolution.

Previously reported that Tesla’s Gigafactory in Mexico will start producing electric vehicles in 2025. However, Tesla has yet to make an official statement on its latest target timeline for the facility.

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