Tesla to Build Northern Mexico EV Plant, AMLO Says After Musk Call
- Further details on investment will be announced this week
- AMLO had questioned whether company could build in north
Tesla Motor Inc. associates work on a Model S electric car at the company's factory in Fremont, California.
Photographer: David Paul Morris/BloombergTesla Inc. will build a new plant in Monterrey, Mexico, the nation’s president announced, ending weeks of speculation over where the electric-car maker would choose to operate in the country.
The decision, which President Andres Manuel Lopez Obrador said the company will detail on Wednesday, would help Mexico build on the millions of combustion-engine vehicles the country already supplies to the US every year. American and European manufacturers have thus far destined most of their EV factories for the US market in American states, though BMW and General Motors Co. have announced new investments in Mexico in recent months that will ramp up EV exports to the US.