Mexico City: US electric car maker Tesla will invest about $5 billion in a huge new factory in Monterrey, the capital of the northeastern Mexican state of Nuevo León, a senior government official said on Tuesday.
The move, yet to be confirmed by Tesla, would significantly boost Mexico’s hopes of benefiting from US firms that are choosing nearby countries over Asia to run their manufacturing operations.
“We brought to Mexico an investment of around $5 billion for the construction of the world’s largest electric vehicle plant,” Martha Delgado, undersecretary for multilateral affairs and human rights at the Ministry of Foreign Affairs, said in a video posted on Twitter.
“I’m going to Austin, Texas, to witness the announcement @Telsa CEO @elonmusk will make about their investments in 2023,” she added.
Voy rumbo a Austin,Texas, a atestiguar el anuncio que dará @elonmusk CEO de @Tesla sobre las inversiones que realizará en 2023, una de las cuales es la que logramos para la instalación en México de la planta de vehículos eléctricos ¡más grande del mundo! #MultilateralesResuelve. pic.twitter.com/uASBBlPUxX
— Martha Delgado +🤚🏻 (@marthadelgado) February 28, 2023
Earlier on Tuesday, Mexican President Andres Manuel Lopez Obrador announced that Tesla would set up the plant in Monterrey, located in northern Maxico and 200-kilometre from the US border.
‘A huge factory’
The manufacturing plant was slated to be “very big”, which would bring a considerable investment and many jobs. Lopez Obrador said Tesla would provide more details on Wednesday, including addressing the issue of water scarcity in Monterrey, an industrial hub hosting transnational firms.
Referring to his discussions with Elon Musk, the president said the Tesla CEO “was very receptive, understanding our concerns,” with measures also expected to include the use of recycled water.
—AFP/APP
