Puerto Vallarta (PVDN) – The electric vehicle plant that Tesla plans to build in Mexico will require an investment of around $5 billion dollars, according to a federal government official, who provided the first official estimate on the cost of the project.
Vice Foreign Minister Martha Delgado said that an investment of around $5 billion was planned in Mexico for the construction of the largest electric vehicle plant in the world, and the investment comes after 14 months of work, and it won’t be the last plant for Tesla in Mexico.
Delgado was en route to Austin, Texas, to attend Tesla’s investor day on Wednesday, where the company is expected to provide details about the project.
President Andrés Manuel López Obrador had previously indicated Tuesday that Tesla would build the plant in Monterrey, in Nuevo León —bordering Texas—, ending weeks of speculation about its location, but without offering further details.
López Obrador had expressed his preference for the plant to be built in the south of the country to avoid the problems of water scarcity that affect some states in northern Mexico.
The president said he achieved environmental commitments from Tesla CEO Elon Musk in a phone call Monday, including the use of recycled water throughout the manufacturing process.
Elon Musk, the owner of Tesla, convinced President Andrés Manuel López Obrador to authorize a factory in Nuevo León with a series of proposals on the use of water for automotive production in the state, said Martha Delgado, Undersecretary for Multilateral Affairs and Human Rights of the Ministry of Foreign Affairs (SRE).
“The businessman brought several solutions to the table yesterday that were very convenient, and President López Obrador found them extremely attractive. They had already planned the use of treated water for the cooling of their towers; the irrigation of green areas; painting process; use the reverse osmosis system in water treatment for vehicle paint”, she said in an interview for El Financiero Bloomberg.
She highlighted that the negotiation process lasted more than 14 months when the businessman who also owns Twitter and Starlink showed his interest in exploring the supply chain in Mexico.
Puerto Vallarta (PVDN) - The electric vehicle plant that Tesla plans to build in Mexico will require an investment of around $5 billion dollars, according . . .
