Tesla Inc will build a new assembly plant in northern Mexico, the country’s president announced on Tuesday, marking a push by the electric vehicle maker to broaden operations outside the U.S. in a deal an official said was worth over $5 billion.
President Andres Manuel Lopez Obrador said “the whole Tesla company” was coming to Mexico to build a “very big” automotive plant, noting that potential investment in batteries was still pending. He did not reveal what models it would produce.
One Mexican official said the plant would be a Tesla “gigafactory” that could produce the Semi truck, Roadster sports car, and potentially other vehicles. Another official said the plant could produce a kind of sport utility vehicle (SUV).
