Tesla Gigafactory Mexico is expected to be announced in the coming days as more details about the deal are coming to light.
Earlier this year, people crossing the border between Texas and Nuevo Leon were surprised to see not just the usual marked lanes for cars and trucks, but also one marked “Tesla” (pictured above).
While it’s true that Tesla has several suppliers in the state, as we reported at the time, we suspected that the move might have more to do with Tesla potentially investing in a factory in the state.
Now another local report in Mexico states that the announcement could come as soon as Friday and includes more details about the project.
According to the report, Tesla plans to first invest $800 million to $1 billion into the factory outside of Monterrey, with the goal first of producing parts to supply other factories and then eventually producing full vehicles at the factory.
Over time, Tesla could invest several billion dollars into what is likely to be known as Tesla Gigafactory Mexico.
As we previously reported, in order for Tesla to achieve its goal to ramp up its global production to 20 million vehicles annually by the end of the decade, the company needs to have 12 Gigafactories, which means it needs to announce eight new ones within the next few years.
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