Tesla comes to Nuevo Leon, in Mexico, to build a $10 billion Gigafactory, and the official announcement will be made soon

Press reports in Mexico indicate that Tesla is about to announce a multi-million dollar investment in the state of Nuevo Leon, in northern Mexico, where it intends to establish a "Gigafactory" to produce electric vehicles and their components.

Do you remember the all-so-secret Elon Musk meeting with Mariana Rodríguez and Samuel Garcia a few months ago in Monterrey? We have talked about it here. At that time, there were comments about the meeting topic, some pointing out they had “shown the region” to Tesla’s businessman. On Friday, Reforma newspaper reported about Elon Musk’s new plan to build a Tesla “Gigafactory” in the State of Nuevo Leon, Mexico, will be announced.

Sources close to the negotiation said it would be a multi-million dollar investment that contemplates several production processes and would be located in a complex in Santa Catarina.

According to the informants, the investment would be around $10 billion dollars, in several phases. If the figure is confirmed, it would be the largest foreign investment announced for Nuevo León since records have been kept, and Mexico would join the countries that have a Tesla “Gigafactory,” such as the United States, Germany, and China.

The initial phase would be to produce various components for existing electric vehicle models and, in future steps, to manufacture a new model at a lower cost than the current ones.

The information coincided with Governor Samuel García’s message in early December when he announced that “historic investments” are expected for the state but refrained from giving further details, citing confidentiality agreements.

Reforma reported in October that Elon Musk visited Nuevo León with the Governor and his close team, including Emmanuel Loo, Undersecretary of Investment.

It is estimated that Tesla’s project will have an initial investment of around one billion dollars and that Musk’s objective is to add production processes.

The construction process in Nuevo Leon would depend on Musk’s urgency to develop the project, according to sources.

Several real estate consultants in Nuevo León have confirmed that during this year, they have received visits from Tesla suppliers looking to set up in the state.