Tesla is planning to establish a new factory in Mexico and could make its plans public in early 2023.
Limited details about the factory are known but it has reportedly been in the works for quite some time. It will be located in the border state of Nuevo Leon, close to sites already operated by Kia and General Motors.
Mexican newspaper Milenio claims that Tesla has selected a site near Monterrey and that Elon Musk and the state government are fine-tuning the “final details” for the factory. Sources told Milenio that the land has already been acquired but details of a land sale have not been found in public documents.
Neither Tesla nor the media office for the Nuevo Leon state have commented on the reports.
Tesla chief executive Elon Musk has been working on establishing a factory in Mexico throughout the latter part of this year. In October, Musk was pictured alongside Nuevo Leon first lady Mariana Rodriguez and also met with Governor Samuel Garcia and local economic development officials at the time.
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This isn’t the first time Musk has met with officials from the state. In April, Garcia visited Tesla’s factory in Austin, Texas to cement an agreement that established a dedicated traffic lane for Tesla suppliers at the Colombia border bridge checkpoint between Mexico and the United States.
It is unclear what model or models Tesla could build in Mexico and if the factory could also produce battery cells. Regardless, the new site will play an important role in Tesla’s ambition to achieve an annual sales growth of around 50 per cent annually, ultimately making it the world’s largest automaker and the most valuable company in the world, eclipsing both Apple and Saudi Aramco in combined value.
