Tesla’s Austin, Texas Gigafactory is where the company produces a large portion of its electric vehicles. It was also home to the 2023 Investor Day event, where Tesla officially confirmed that it would be building a new factory in Mexico as it continues to expand its business in North America. Now, we’ve learned some new details about the factory, which will begin construction soon. A new statement claims that Tesla’s Mexico factory will be nearly double the size of its Texas factory.
As reported by CNBC, Santa Catarina mayor Jesus Nava stated that the 4,200-acre land that Tesla is building its Mexico factory on is larger than the Mexico City International Airport. The Texas Gigafactory is built on 2,500 acres of land. “This will bring a great economic spillover,” he said. Tesla will spend $5 billion as it hires 5,000 people to work at the Mexico factory, with that price and employee count set to grow to $10 billion and 10,000, respectively.
Tesla will officially begin construction on the Nuevo Leon factory in approximately three months. Once construction begins, the company will announce which specific vehicles will be produced at the factory. At its 2023 Investor Day, Tesla announced that it had produced more than four million electric vehicles. It will be interesting to see how those numbers ramp up once the new factory is established. According to one Mexican official quoted in the report, the new factory will produce a million vehicles a year.
Tesla CEO Elon Musk confirmed that the company would be building a Mexican factory while on-stage at Investor Day 2023 just days ago. This came after word of the new factory started circulating last week. Now that we have an idea of how massive this new factory will be, it will surely be a major focal point of Tesla’s manufacturing business in the future. As we cover everything going on at the electric vehicle manufacturer, be sure to bookmark the Tesla topic page on Shacknews.