Tesla will build a gigafactory in Monterrey, Mexico, for the production of electric cars, with an investment of approximately 1 billion dollars.
Internationally, Tesla has manufacturing facilities in China (Gigafactory Shanghai) and Germany (Gigafactory Berlin-Brandenburg).
The initial investment of the new plant in Mexico would be around 1 billion dollars and could go up to 10 billion dollars, according to Reuters.
After meeting with Elon Musk, President Andrés Manuel López Obrador informed that Tesla will build the new car plant in Monterrey, with a commitment not to affect the local water supply.
Later, the mayor of Santa Catarina, Jesús Nava, stated that the plant will be located in that municipality.
Investment
International operations allow the company to increase the affordability of its vehicles for customers in local markets by reducing transportation and manufacturing costs and eliminating the impact of unfavorable tariffs.
Tesla also has plants in Northern California, in Buffalo, New York, Gigafactory New York; in Austin, Texas, Gigafactory Texas; and near Reno, Nevada, Gigafactory Nevada.
At the end of 2022, the company had $22.19 billion in cash and cash equivalents and investments, an increase of $4.48 billion from the end of 2021.
Its cash flows from operating activities during 2022 and 2021 were US$14.72 billion and US$11.5 billion, respectively, representing an increase of US$3.23 billion.
At the same time, capital expenditures amounted to US$7.16 billion during 2022, up from US$6.48 billion in 2021.
Sustained growth has enabled Tesla’s business to become self-funded overall, and the company continues to invest in a number of capital-intensive projects in the coming periods.
As of December 31, 2022, Tesla had $16.25 billion and $5.93 billion in cash and cash equivalents and short-term investments, respectively.
Balances held in foreign currencies had a U.S. dollar equivalent of $3.42 billion and consisted primarily of Chinese yuan, euros and British pounds.
In addition, The Company had US$2.42 billion of undrawn committed amounts under its credit facilities as of December 31, 2022.
