Tesla's $5 billion Mexican factory will be the largest enterprise and will produce 1 million electric vehicles a year

Tesla held Investor Day 2023 this week and announced the construction of a new factory in Mexico

in the state of Nuevo León. The new facility will be Tesla's largest production site.

What is known

Elon Musk's company invests inthe construction of the Mexican plant will cost $5 billion and will create 5,000-6,000 jobs. However, over time, the volume of investments and the number of jobs will double.

The plant will be located 6 hours fromTesla headquarters in Texas. The facility will occupy twice the area of ​​the Texas factory. This could be understood some time ago, based on the activity of Tesla buying up land in Mexico.

The new plant will be able to produce annually 1 millionelectric vehicles. Tesla will produce vehicles in Mexico on a new platform, but there is no information about this yet. More details will appear in three months, when construction begins.