Beautiful Virgin Islands

Sunday, Jun 15, 2025

Tesla To Make Big Investment In Mexico Plant

Tesla To Make Big Investment In Mexico Plant

"This will represent a considerable investment and many, many jobs," Lopez Obrador told reporters, saying Elon Musk had been receptive to Mexico's concerns and accepted its proposals.
Electric vehicle maker Tesla Inc. will build a major new plant in the northern Mexican city of Monterrey, President Andres Manuel Lopez Obrador said on Tuesday, dispelling concerns his government could block the deal over water shortages.

The news gives a boost to Mexico, which is seeking to benefit from geopolitical tensions by attracting investment and eroding Asia's dominant position in manufacturing industries.

Lopez Obrador said the two sides had reached agreement after a call with Tesla Chief Executive Elon Musk on Monday, following a separate conversation he said the two held late last week.

"This will represent a considerable investment and many, many jobs," Lopez Obrador told reporters, saying Elon Musk had been receptive to Mexico's concerns and accepted its proposals.

Speaking at a news conference, Lopez Obrador said Tesla would likely give more details of its plans on Wednesday.

The call between the two took place after Lopez Obrador had on Friday stirred fears that he could block the investment in Monterrey if water was scarce in the arid region.

The president said Mr Musk had understood the challenge posed by water scarcity in the region, and that the company would be making a series of commitments as part of the deal.

The discussions around Tesla have been a major test of how investors responded to Lopez Obrador's resource nationalism, which has persistently stirred misgivings among business groups.

Speculation about the prospect of Tesla going to Mexico has circulated for months, and the plant is set to become one of the major investments of the Lopez Obrador administration.
Newsletter

Related Articles

Beautiful Virgin Islands
0:00
0:00
Close
Former Welsh First Minister Addresses Unionist Concerns Over Irish Language
King Charles Leads Tribute to Air India Crash Victims at Trooping the Colour
Jack Pitchford Embarks on 200-Mile Walk to Support Stem Cell Charity
Surrey Hikers Take on Challenge of Climbing 11 Peaks in a Single Day
UK Deploys RAF Jets to Middle East Amid Israel-Iran Tensions
Two Skydivers Die in 'Tragic Accident' at Devon Airfield
Sainsbury's and Morrisons Accused of Displaying Prohibited Tobacco Ads
UK Launches National Inquiry into Grooming Gangs
Families Seek Closure After Air India Crash
Gold Emerges as Global Safe Haven Amid Uncertainty
Trump Reports $57 Million Earnings from Crypto Venture
Trump's Military Parade Sparks Concerns Over Authoritarianism
Nationwide 'No Kings' Protests Challenge Trump's Leadership
UK Deploys Jets to Middle East Amid Rising Tensions
Trump's Anti-War Stance Tested Amid Israel-Iran Conflict
Germany Holds First Veterans Celebration Since WWII
U.S. Health Secretary Dismisses CDC Vaccine Advisory Committee
Minnesota Lawmaker Melissa Hortman and Husband Killed in Targeted Attack; Senator John Hoffman and Wife Injured
Exiled Iranian Prince Reza Pahlavi Urges Overthrow of Khamenei Regime
HSBC Accelerates Chairman Succession as Mark Tucker Prepares Departure
Wreck of $17 Billion San José Galleon Identified Off Colombia After 300 Years
Cristina Kirchner Requests House Arrest Citing Assassination Risk
Beata Thunberg Rebrands as Beata Ernman Amidst Sister's Activism Controversy
Israel Issues Ultimatum to Iran Over Potential Retaliation and Nuclear Facilities
Black Box Recovered from Air India Crash Site
Sole Survivor of Air India Crash Recounts Escape
UK and EU Reach New Economic Agreement
Coinbase CEO Warns Bitcoin Could Supplant US Dollar Amid Mounting National Debt
Trump to Iran: Make a Deal — Sign or Die
Two Women Found Dead in Eryri National Park
Operation "Like a Lion": Israel Strikes Iran in Unprecedented Offensive
Pentagon Initiates Review of AUKUS Nuclear Submarine Pact
Meta to Invest $15 Billion in Scale AI to Advance AGI Goals
Rare Cancer Cases Triple Among Millennials, Alarming Doctors
G7 Finance Ministers Convene in Canada with Focus on Ukraine and Trade Tariffs
UK Spending Review Prioritizes Health and Defence Amid Budget Constraints
US Raises Security Concerns Over Proposed Chinese Embassy in London
Defined Benefit Pension Reforms Expected to Unlock Limited Investment
UK Industrial Strategy Launch Delayed Amid Budget Negotiations
Crick Institute Seeks Additional Funding to Attract International Scientists
Zia Yusuf Returns to Reform UK in New Role After Brief Resignation
Bezos's Lavish Venice Wedding Sparks Local Protests
US Urges UK to Raise Defence Spending to 5% of GDP
Europe Prepares for Historic Lunar Rover Landing
Italian Parents Seek Therapy Amid Lengthy School Holidays
British Fishing Vessel Seized by France Fined €30,000
Dutch Government Collapses Amid Migration Policy Dispute
Germany Moves to Expedite Migrant Deportations
UK Commits to 3.5% GDP Defence Spending Under NATO Pressure
Scientist Returns Royal Society Prize in Protest Over Elon Musk's Fellowship
×