Elon Musk: Tesla will make big investment in Mexico plant, will build new plant with $ 5 billion

Mexico City, Reuters. Electric vehicle maker Tesla Inc will build a major new plant in the northern Mexican city of Monterrey. Which is trying to take advantage of geopolitical tensions by attracting investment and eroding Asia’s dominant position in manufacturing industries. President Andres Manuel Lopez Obrador said the two sides had reached an agreement on Monday after a call with Tesla Chief Executive Elon Musk.

Tesla may stop investing in Monterrey
“It will represent a lot of investment and a lot of jobs,” López Obrador told reporters, adding that Elon Musk was receptive to Mexico’s concerns and therefore accepted the proposals. Speaking at a news conference, Lopez Obrador said Tesla would provide more details on its plans on Wednesday. López Obrador on Friday raised fears that he could block investment in Monterrey if the arid region faces water shortages.

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The discussions around Tesla have been a major test of how investors react to López Obrador’s resource nationalism, which has drawn persistent misgivings among business groups. There has been speculation for months about the possibility of Tesla moving to Mexico. read more….