While Tesla’s Investor Day is still a ways off, we could already be aware of one of the company’s most significant disclosures. Elon Musk has committed to build the automaker’s next gigafactory in northern Mexico, especially in Monterrey, the capital of the northern state of Nuevo Leon, according to Mexican President Andrés Manuel López Obrador. It’s a transaction that’s been in the works for a while: Musk visited Nuevo Leon late last year to speak with the region’s governor.
Yet, there were some doubts regarding Tesla’s ability to construct in the area; when Monterrey had acute water shortages in 2022, President López Obrador stated that the government would not provide licences for water-hungry enterprises. Tesla was given an exemption after a series of phone talks with Elon Musk. “There is one pledge that all of the water used in the construction of electric autos would be recycled water,” López Obrador said of the call, adding that the facility would represent “a significant investment and many, many employment.”
What does Tesla want to develop in Monterrey, Mexico? We’ll have to wait till tomorrow to find out. The Mexican President did not specify what the new plant will make, but it is worth mentioning that Tesla has already announced a significant expansion of its facility in Reno, Nevada, where it would invest $3.6 billion to establish a battery factory and mass produce the Telsa lorry. López Obrador stated that we might expect additional information on March 1st, which happens to be Tesla Investor Day.
