Tesla received 2.627 billion pesos in factory building subsidies from Mexico, as well as tax exemptions and other policy support

According to news from this website on December 15, the Mexican Nuevo Leon state government announced on Tuesday that electric car manufacturer Tesla has obtained a land use permit issued by the country’s federal Ministry of Environment and will build a new plant in Monterrey, the capital of Nuevo Leon state. Build a "gigafactory" in the area to the west.

In a statement released on Thursday, the Nuevo Leon State Economic Development Council said it had approved 2.627 billion pesos (currently about 335 million yuan) in incentives, including payroll tax relief, to Tesla. and other policies), equivalent to 3.37% of Tesla’s investment.

The Nuevo León state government stated that the purpose of these incentives is to build basic infrastructure such as water treatment facilities and roads in the area around the factory, and also includes policies such as reducing Tesla’s payroll tax

The Nuevo León state government estimates that the plant will require approximately 261 hectares of land; construction costs will exceed US$5 billion (approximately 35.65 billion US dollars) yuan) and is expected to create 4,500 manufacturing and technology jobs

The state’s governor, Samuel Garcia, said in October that the “gigafactory” is expected to be completed within the next two years by Tesla and its Suppliers bring in revenue of approximately US$15 billion (currently approximately 106.95 billion yuan).

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