Tesla Works on Mexico Plant Design
By Arturo Castillo
October 24, 2023
Monterrey, Nuevo Leon- Following the presentation of its third-quarter results, Tesla announced its efforts in designing a new plant to be established in Mexico. This facility will be situated in the municipality of Santa Catarina, Nuevo León. When questioned by investors regarding plans to expand production capacity at the Berlin and Austin plants and the timetable for the new factory in Mexico, Vaibhav Taneja, Tesla's Chief Financial Officer, mentioned that they are actively engaged in the infrastructure design of the Mexican plant. Simultaneously, they are working on a new production line for a next-generation vehicle at their Gigafactory in Mexico.
Elon Musk, CEO of Tesla, emphasized their preparation for commencing construction at Giga Mexico, noting, "We are laying the groundwork for Giga Mexico, doing all the long lead items, but I think we just want to get a better sense of the global economy before we go full speed on the new Mexico factory." Musk also expressed concerns about interest rates.
Maximizing production capacity
Regarding the Berlin and Austin plants, the CFO underscored their current focus on maximizing production capacity, aiming to enhance efficiency while maintaining high levels of quality and cost control. Furthermore, Tesla pledged to release its highly anticipated Cybertruck to the market by November 30, two years later than initially anticipated, and assured investors that they are on track to deliver 1.8 million vehicles this year, setting a record.