and another bigger nail in the coffin for oil During the 2023 Investor Day, Tesla's CEO Elon Musk officially announced that the company will build its next electric vehicle factory in Mexico.
The company's sixth gigafactory plant will be located near the city of Monterrey and is envisioned to produce next-generation all-electric vehicles.
The Tesla Giga Mexico is expected to be "the biggest electric vehicle plant in the world," according to Mexico (via Reuters). The total investment is estimated to exceed $5 billion and includes Tesla's latest technological advancements to produce affordable, high-volume electric cars for the masses.