Tesla Gigafactory Mexico expected to be announced in the coming days

Tesla Gigafactory Mexico is expected to be announced in the coming days as more details about the deal are coming to light.

Earlier this year, people crossing the border between Texas and Nuevo Leon were surprised to see not just the usual marked lanes for cars and trucks, but also one marked “Tesla” (pictured above).

We ended up finding out that Tesla had struck a deal with the state of Nuevo Leon to have its own lane at the border crossing in order to reduce wait times for cargo going through the border – or at least that was the explanation of Ivan Rivas, the economy minister of Nuevo Leon.

While it’s true that Tesla has several suppliers in the state, as we reported at the time, we suspected that the move might have more to do with Tesla potentially investing in a factory in the state.

Earlier this year, we reported on CEO Elon Musk confirming that Tesla is considering sites for a new factory in Canada, Mexico, and the United States when discussing its next plant in North America.

In October, rumors of a Tesla factory in Mexico ramped up as Tesla CEO Elon Musk visited the state and met with the governor. Local media reported that Tesla was particularly interested in a location in Santa Catarina, a municipality just outside of Monterrey. 

Following the visit, the government confirmed discussions of a possible investment in the state.

Last week, a deal to bring a Tesla factory to Mexico was reportedly achieved with an announcement expected within the next month.

Now another local report in Mexico states that the announcement could come as soon as Friday and includes more details about the project.

According to the report, Tesla plans to first invest $800 million to $1 billion into the factory outside of Monterrey, with the goal first of producing parts to supply other factories and then eventually producing full vehicles at the factory.

Over time, Tesla could invest several billion dollars into what is likely to be known as Tesla Gigafactory Mexico.

As we previously reported, in order for Tesla to achieve its goal to ramp up its global production to 20 million vehicles annually by the end of the decade, the company needs to have 12 Gigafactories, which means it needs to announce eight new ones within the next few years.