Mexico Strikes an Electric Deal with Elon Musk's Tesla: New Plant Confirmed!

Without offering further details, sources from the Ministry of Foreign Affairs informed that during the videoconference held between President Andrés Manuel López Obrador and the owner of the electric car company Tesla, Elon Musk, the magnate confirmed that he will invest in the construction of a plant in Mexico.

Scheduled to take place this morning at the end of his conference, the conference was held where they would have talked about the favorable environment for the millionaire investment in Mexico.

Although the businessman had originally announced his interest in investing in Nuevo León, last week President Andrés Manuel López Obrador practically ruled out that his government would authorize permits for the installation of the plant in that state due to the acute water shortage faced by Nuevo León, which became a crisis in 2022 when the drought even affected the supply of water for human consumption.

In his conferences, the president informed that the federal government was interested in an approach with Musk to offer details about the prevailing situation and where there would be better conditions for the investment.

Tesla in Mexico

As of last year, Tesla, the electric vehicle and energy company, did not have any significant investments in Mexico. But the company has said it wants to do more business in the country and has thought about making investments there in the past.

In 2019, Tesla CEO Elon Musk tweeted about the possibility of building a Gigafactory in Mexico to produce vehicles for North America. However, no official plans or announcements have been made regarding this project.

Additionally, Tesla has been expanding its Supercharger network in Mexico to support electric vehicle charging for its customers. In 2021, the company said it would add more Supercharger stations across the country.