Tesla is reportedly planning a $10 billion Gigafactory in Mexico
Tesla is planning to build a new Gigafactory in the Mexican state of Nuevo León, according to Reuters, which cited a story in the Mexican newspaper Reforma. The automaker may announce the new factory with an initial $800 million to $1 billion investment as early as Friday, local newspaper Reforma reports.
The factory will cost Tesla as much as $10 billion after completion, including future expansions, according to the newspaper’s source. It could be Tesla’s most expensive Gigafactory yet. By comparison, the company’s Gigafactory in Berlin cost about $5.5 billion.
If the new project moves forward, it will be located just outside the city of Monterrey and will initially be used to build...