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Bangkok Post
Bangkok Post
Business

Tesla to invest about $5bn in Mexico plant

Tesla Inc. Mexico Monterrey United States Mexico City General Motors Volkswagen
Tesla faces increasing competition in the electric vehicle sector, with a growing number of Chinese makers as well as traditional auto firms such as General Motors and Volkswagen

MEXICO CITY: American electric car maker Tesla will invest about US$5 billion in a massive new factory in the northern Mexican city of Monterrey, a senior government official said Tuesday.

The move, which has yet to be confirmed by Tesla, would be a major boost to Mexico's hopes of benefiting from US companies choosing nearby countries over Asia for their manufacturing operations.

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