Tesla boss Elon Musk unveiled a model of the upcoming new plant. It will take place in Mexico, close to Monterrey. And I’d want to highlight that we will keep expanding production in all of our existing plants “he said. “The Gigafactory project in Mexico will be complimentary to the output of other parties,” claimed the businessman.
According to Martha Delgado, Undersecretary for Multilateral Affairs at the Foreign Ministry, the investment would be around US$5,000 million. Moreover, it will create up to 6,000 jobs. The factory will be built on the outskirts of Monterrey, in the state of Nuevo León.
Tesla’s arrival complements BMW’s commitment to invest US$860 million in the production of electric vehicles at its factory in San Luis de Potos, as well as declarations by other industry titans regarding new operations to grow or start their electricity production. So, Tesla and BMW join the eight existing electric car plants in the country. This is including global automotive industry titans such as General Motors and Ford. Almost four years ago, the electric vehicle sector began its engines in Mexico. The country has created a strong automotive industry for decades. Therfore, it becomes the world’s seventh producer and fifth exporter.
Furthermore, forecasts show that electric vehicle production (which was 9,000 units in 2022) will approach 40,000 units in 2025. However, this is not counting the cars that Tesla will manufacture.