Tesla’s Jaw-Dropping $15 Billion Investment Bombshell in Mexico!

Tesla, suppliers to invest $15 billion in Mexico factory – local governor

In a significant development, the Governor of Nuevo Leon state in Mexico announced on Monday that Tesla, along with its suppliers, is set to make a staggering investment of $15 billion in a factory that is currently in the construction phase. This substantial amount is three times greater than what Mexican officials had previously disclosed.

Back in March, Tesla’s CEO, Elon Musk, revealed the company’s intention to establish a gigafactory in the northern region of Nuevo Leon as part of their ambitious global expansion strategy. However, Musk did not specify the exact investment figure at that time, while Mexican authorities had indicated a $5 billion investment for the factory.

Speaking at an official event, Nuevo Leon Governor Samuel Garcia made the surprising revelation that the facility’s investment would now be tripled. Neither Tesla’s press office nor Nuevo Leon officials have responded to inquiries regarding the Governor’s statement at this time.

Governor Garcia emphasized, “Tesla and its suppliers alone will contribute a remarkable $15 billion investment over the course of the next two years.” He noted that this substantial influx of funds would necessitate increased spending on infrastructure, including highways and other public works, to accommodate the project’s scale.

This announcement comes amidst a broader trend in Mexico’s automotive industry, where major global automakers such as BMW, General Motors, and Ford have already unveiled plans to either commence or intensify their production of electric vehicles. This shift aligns with the industry’s ongoing transition away from fossil fuel-powered cars.

Sources with insider knowledge had previously informed Reuters that Tesla had plans to commence production in Mexico by 2025. However, the company has yet to disclose a specific start date for the construction of its gigafactory or when production operations will commence.

This substantial investment by Tesla and its suppliers not only marks a significant economic milestone for Nuevo Leon but also underscores the growing prominence of electric vehicle production within the Mexican automotive landscape. Stay tuned for further updates on this developing story.