The Clap
According to sources, Tesla (NASDAQ:TSLA) could establish a new factory in Nuevo Leon, Mexico with an initial investment of $800mn – $1bn.
What
The total investments could potentially reach $10bn with future expansions. The report comes after Elon Musk, CEO of Tesla, visited the state and met with the state’s governor and US ambassador.
So What
The factory will manufacture components that are used in Tesla models and could potentially expand into manufacturing an all-new Tesla model at a lower cost.
Now What
The announcement is yet to be official and is expected sometime in January.