Tesla’s next factory will be in Mexico, president confirms

Tesla plans to build a new factory in Monterrey, Mexico, the country’s president said Tuesday confirming speculation that the automaker would set up shop there.

Notably, Tesla has agreed to use recycled water, addressing a major environmental concern in northern Mexico, President Andrés Manuel López Obrador said.

Tesla will share more information about the new factory during its investor day event scheduled for Wednesday afternoon, said López Obrador who is also known as ALMO.

Tesla CEO Elon Musk is expected present the long-awaited and often teased Master Plan 3 during the company’s investor day that will be held at the company’s Gigafactory Texas located near Austin. Investors will be able to see its production line and discuss with its leadership team topics like the company’s long-term expansion plans, generation 3 platform and capital allocation, according to the company.

Tesla has several factories in the United States, including in Fremont, California, where vehicles are assembled, a plant near Sparks, Nevada which is a joint project with Panasonic and its headquarters in Austin, Texas. Tesla also has factories near Berlin and Shanghai.

Mexico, particularly states near the U.S. border, has been a hotspot for automotive manufacturing for decades. U.S. automakers Ford, GM, German automaker Volkswagen and Japanese companies Honda, Nissan and Toyota have vehicle assembly plants in Mexico. GM, Kia and Stellantis have factories in Monterrey. Several automotive suppliers, including Continental and Faurecia have plants there, making Mexico critical to the industry’s supply chain network.

Tesla’s next factory will be in Mexico, president confirms by Kirsten Korosec originally published on TechCrunch



from TechCrunch https://ift.tt/Z7smPbW

Comments

Post a Comment

Popular posts from this blog

Zombie startups

Image
Welcome to Startups Weekly, a fresh human-first take on this week’s startup news and trends. To get this in your inbox, subscribe here. People leave jobs for all kinds of reasons, but when it’s a CFO departing a richly valued company as the company itself conducts layoffs, the exodus can be a sign of a larger issue. This was one of the takeaways I had when chatting with Continuum CEO and co-founder Nolan Church about a recent spree of CFO resignations, including but not limited to OpenSea, Noom and Brex. The founder reiterated that we don’t know the exact reasons that people are leaving, but he also noted that it’s a red flag from a recruitment perspective. He also introduced me to the idea of zombie companies, which I appreciated as it is officially spooky season and we love a festive framework. Zombie companies are basically companies that raised a ton of money over the boom cycle but aren’t producing nearly enough revenue to justify the valuation. The late-stage market is full o...
Read more

Guilherme Rambo, who has published scoops about unreleased Apple products by examining beta software, says Apple locked his dev account with no stated reason (Buster Hein/Cult of Mac)

Image
Buster Hein / Cult of Mac : Guilherme Rambo, who has published scoops about unreleased Apple products by examining beta software, says Apple locked his dev account with no stated reason   —  Guilherme Rambo, one of the top Apple secret-spillers, says Apple locked him out of his developer account, preventing … from Techmeme https://ift.tt/37pX6fR
Read more

Minneapolis Mayor Jacob Frey wins tough reelection fight over a slew of challengers

Image
In this Feb. 17, 2021 file photo, Minneapolis Mayor Jacob Frey addresses the media in Minneapolis. Richard Tsong-Taatarii/Star Tribune via AP, Pool File What's at stake: Minneapolis' first-term Mayor Jacob Frey won reelection against numerous challengers in the city's ranked-choice election, where all candidates ran on the same ballot. The main Democratic Farmer-Laborer challengers to Frey were former state lawmaker Kate Knuth, community organizer Sheila Nehzad, Cedar-Riverside Community Council leader AJ Awed, and attorney Clint Conner . A smattering of Republican, independent, and third-party candidates also ran. Frey has faced local and national scrutiny for his handling of crime and policing issues in the city following the murder of George Floyd at the hands of Minneapolis police officer Derek Chauvin and the ensuing months of protests and civil unrest that Floyd's murder sparked around the country. The spotlight on that shooting made police and publ...
Read more