Tesla Plans Manufacturing Plant in Mexico's Monterrey
Mexican President announces details of the investment, which will address water shortage problems in the city and create new job opportunities
Tesla is planning to build a manufacturing plant in Monterrey, Mexico.
The investment will create jobs and address water shortage problems in the city.
The Mexican president, Andrés Manuel López Obrador, said the details of the investment will be revealed soon.
The demand for electric vehicles has led to an expansion of car plants globally.
Electric car manufacturer Tesla is set to build a manufacturing plant in Monterrey, a northern Mexican industrial hub, according to President Andrés Manuel López Obrador. López Obrador said that Tesla's investment in the plant would lead to significant job creation, with further details to be released in the coming days. Tesla has committed to tackling water shortages in Monterrey by using recycled water in the production of electric vehicles. The increasing demand for electric vehicles has led to an expansion of car plants globally. Tesla CEO Elon Musk stated last year that the company would need around twelve factories to achieve its goal of selling 20 million vehicles annually by 2030.