On July 11, according to foreign media reports, at the Tesla Investor Day event on March 1, CEO Musk confirmed that they will build a factory in Nuevo Leon, Mexico, for the production of the next generation of electric vehicles.

According to the latest reports from foreign media, Samuel Alejandro Garc i a Sep u lveda, the governor of Nuevo Leon state, where the plant is located, revealed that all permits for the plant are being advanced, and environmental protection, energy, water and other inspections have been completed.

While no specific date has been set for granting the permit, Governor Sep u lveda expects Tesla to begin construction of the first phase of the plant at any time.

However, foreign media also mentioned in the report that the Mexican Gigafactory, which is advancing with various permits and can start the first phase of construction at any time, may be difficult to replicate the construction speed of Tesla Shanghai Gigafactory, and the completion time of the factory may be delayed to 2025 due to some local union rules and the transfer of the supply chain.

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In addition, Sep u lveda also revealed that Tesla’s next generation of mass-market electric car, which has been completed design, tentatively named Model 2, will be the “best” and “most economical” electric car in the global market.

Foreign media also mentioned in the report that the construction of Tesla’s Mexican Gigafactory will begin in the summer, and then the Model 2 May be announced.

From Musk confirmed the construction of the gigafactory in Nuevo Leon to now, Tesla has not disclosed the size of the gigafactory, but foreign media reported that according to the mayor of the factory, Tesla Mexico Gigafactory covers an area of nearly 4200 acres, that is, about 25495.2 acres, which will be far larger than the factory that Tesla has built or is under construction.

Covering a large area, it means that the investment in the plant will also be quite large, the relevant people in Mexico have previously said that it will be more than $5 billion, and some people familiar with the matter have said that it may be close to $10 billion.