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Tesla Plans to Announce Mexico EV Plant as Soon as Next Week

  • Musk has hinted at year-end decision on North American plant
  • Factory to be built in auto area of northern state Nuevo Leon

Tesla Inc. is finalizing plans to build an electric vehicle assembly plant in an industrial area of northeastern Mexico and may announce the factory as early as next week.

The plant is to be located in Santa Catarina in Monterrey city, the capital of Nuevo Leon state, according to people familiar with the automaker’s plans, who asked not to be identified discussing internal business. Final details are still being worked out, and the talks with the company have involved both the state government and Mexico’s foreign relations ministry, one of the people said.