Tesla To Kick-Off Construction Of Giga Mexico Next Week, Nuevo León Governor Confirms
Portfolio Pulse from Benzinga Neuro
Tesla Inc. is set to begin construction of its Gigafactory in Mexico next week, with the groundbreaking ceremony scheduled for March 3. The factory, located in Santa Catarina, Nuevo León, will produce Tesla's next-generation, lower-cost electric vehicles, including the Model Y, batteries, and the Cybertruck, with production expected to start by the second half of 2025. This move is part of Tesla's expansion strategy and comes amid reports of Chinese EV maker BYD Co also considering a production facility in Mexico.

February 26, 2024 | 4:36 am
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Tesla's upcoming Gigafactory in Mexico marks a significant expansion, aiming to produce lower-cost electric vehicles, including the Model Y, batteries, and the Cybertruck, with production slated for the second half of 2025.
The commencement of the Gigafactory construction in Mexico is a positive development for Tesla, indicating progress in its expansion strategy and potential for increased production capacity. This could lead to higher sales volumes and revenue growth, especially with the focus on lower-cost electric vehicles, which are likely to have a broad market appeal. The direct mention of the factory's objectives and the products it will produce, along with the expected start of production, underscores the significance of this development for Tesla's future growth prospects.
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