American electric car maker Tesla will invest about $5 billion in a massive new factory in the northern Mexican city of Monterrey, a senior government official said Tuesday.
The move, which has yet to be confirmed by Tesla, would be a major boost to Mexico’s hopes of benefiting from US companies choosing nearby countries over Asia for their manufacturing operations.
“We brought to Mexico an investment of more or less $5 billion for the construction of the largest electric vehicle plant in the world,” Martha Delgado, undersecretary for multilateral affairs and human rights, said in a video posted on Twitter.
“I’m going to Austin, Texas, to witness the announcement @Telsa CEO @elonmusk will make about their investments in 2023,” she added in a text accompanying a video from the Mexico City airport.
Earlier Tuesday, Mexican President Andres Manuel Lopez Obrador announced that Tesla was going to open a plant in Monterrey, northern Mexico, about 200 kilometers (120 miles) from the US border.
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