Tesla Inc. plans to build a major manufacturing plant in Monterrey, Mexico, the country's president confirmed on Tuesday.
Andrés Manuel López Obrador said Tesla has accepted proposals to address the issue of water shortages in Monterrey, located about 300 miles southwest of San Antonio. More details are expected on Wednesday during Tesla's Investor Day event.
"This will represent a considerable investment and many, many jobs," López Obrador said on Tuesday.
- López Obrador and Tesla CEO Elon Musk reached an agreement after they held several phone calls in recent days.
- They discussed concerns that the investment could be blocked due to water scarcity in the fast-growing arid region. The proposal involves using recycled water during the EV manufacturing process.
- “They are going to help,” López Obrador said of Tesla.
In July, Musk confirmed that Tesla was considering sites in the U.S., Canada, and Mexico for a future North American plant.
- The EV maker has vehicle assembly plants in Austin, Texas, and Fremont, California, as well as in Shanghai in China, and Berlin, Germany.
