Tesla has confirmed that it will build a Gigafactory in Mexico. The announcement was made by the company’s CEO Elon Musk on Wednesday 1 March 2023 during Tesla’s Investor Day event. The plant will be located in Nuevo Leon near the city of Monterrey, a northern Mexican state bordering Texas and strategically located near the company’s headquarters in Austin, Texas. Tesla’s next-generation vehicle will be manufactured at the facility, reportedly valued at USD5 billion, and will provide around 6,000 jobs. Further details on the new model, the plant’s production capacity and specific investment amounts are yet to be released. This is the first official announcement on the plant, with the Mexican president Andres Manuel Lopez Obrador confirming Tesla’s future presence in the country after a phone call with Musk on Tuesday 28 February 2023.
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