According to the recent announcement by the Mexican Federal Ministry of Environment, electric car manufacturer Tesla has obtained approval for land use from the Mexican Federal Ministry of Environment. The company plans to build a "gigafactory" in the northern border state of Nuevo León.
The approved land area for constructing the "gigafactory" is approximately 261 hectares, and the Nuevo León state government estimates that the construction cost of this "gigafactory" will exceed $5 billion. In March of this year, Tesla CEO Elon Musk revealed plans for the Mexican gigafactory during the 2023 Investor Day, stating the intention to produce the next-generation model there. However, specific timelines and capital cost projections were not provided.
In October, Musk expressed hesitations regarding whether to proceed "full throttle" with the factory plans in Mexico due to economic uncertainties. Following Musk's comments, the Nuevo León state government announced that it would spend over $130 million on infrastructure to support the construction. They indicated their agreement to build a substation, a natural gas pipeline, a railway spur, roads, as well as water and sewage treatment services. The governor of Nuevo León stated in October that the so-called "gigafactory" is expected to bring approximately $15 billion in revenue over the next two years through Tesla and its suppliers.
As previously revealed by the governor of Nuevo León, "Based on the information we have, Tesla is now in the final stages of designing a new vehicle. It will be a new model, and from what we know, it will be the world's best electric car and the most economical car. It will be a milestone." The governor's description aligns with the previously leaked information about the Tesla Model 2. Musk recently disclosed that the Tesla Model 2 is currently undergoing rapid development and has made significant progress. He further stated that the first production line for the Model 2 will be established at the Texas gigafactory, with the second production line planned to launch in Mexico.
