Tesla picks Moneterrey for new Gigafactory in Mexico

Tesla is expected to officially announce plans for a new Gigafactory in Mexico on Wednesday, following confirmation from Mexican President Andrés Manuel López Obrador the automaker has picked Monterrey as the location.

Obrador made the comments while speaking to reporters on Tuesday, declining to provide many details other than to say it will be a “considerable” investment that will bring “many, many” jobs to the region. The deal appears to have been finalized after Obrador and Musk had a telephone conversation on Monday, in which the pair reportedly spoke for close to one hour. Obrador and Musk also held another call last week.

There have been rumours of a new Tesla facility in Mexico for months. Two of the front-runners contending for the plant appeared to be Nuevo Leon, which is near the Mexico-US border, and a new industrial complex near the Mexico City airport.

One of the big concerns around a plant in Mexico was water shortages, with some even speculating it could lead to the Mexican government blocking the deal. Those concerns appear to have been addressed as Obrador said Tesla has made a series of commitments related to water conservation as part of the deal.

The official announcement from Tesla should come tomorrow during the company’s first ever Investor Day. Set to take place at Giga Texas, about 6 hours away from Monterrey, Musk is expected to reveal the details behind his Master Plan 3, which is about scaling Tesla to “extreme size” to reach their production goal of 20 million cars per year by the end of the decade. The plan is also “the path to a fully sustainable energy future for Earth,” according to Musk.

Elon Musk will present ‘Master Plan 3’ at Tesla’s Investor Day – here’s what we know about the plan so far

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