Tesla is planning to build a new factory in Mexico, joining other carmakers bulking up their presence south of the US border.

Mexico President Andres Manuel Lopez Obrador said the plant for the electric car firm would be in Monterrey, which is about a three-hour drive from Texas.

Tesla is expected to share more in presentation to investors on Wednesday.

Mexico had previously raised concerns about how water demands from the factory might affect the region.

But Mr Lopez Obrador said he had won commitments from Tesla boss Elon Musk that had helped ease those worries.

Mexico is trying to position itself as a winner as tensions between the US and China disrupt traditional supply chains.

 

"This will represent a considerable investment and many, many jobs," Mr Lopez Obrador said at a news conference on Tuesday.

Pity they don't want to support American workers, but I guess profit for shareholders is more important than jobs for Americans.

I wonder how many actual jobs will be created anyway, given the level of automation these days. IMO the worker free factory can't be far off, given the advances of AI/ robotics.

"But Mr Lopez Obrador said he had won commitments from Tesla boss Elon Musk that had helped ease those worries."

The same Elon Musk that made many promises to his workers for which he is being sued now?

Guess there went the ev tax credit for buying an ev it stipulates made in the USA guess when the time comes for an ev it won’t be a Tesla 

Transalation: He can't sell them in the US because the left wing hate him and the right wing hate EV's.

13 hours ago, thaibeachlovers said:

Pity they don't want to support American workers, but I guess profit for shareholders is more important than jobs for Americans.

I wonder how many actual jobs will be created anyway, given the level of automation these days. IMO the worker free factory can't be far off, given the advances of AI/ robotics.

It will not be for shareholders never paid a dividend. Only looking for shares going up .

Then we will see another tweet should I take tesla private ???? then dump $20 billion