EV major Tesla (NASDAQ: TSLA) is expanding its global footprint with a Gigafctory in Mexico. According to a Reuters report, Governor Samuel Garcia of Nuevo Leon, while speaking at an event in Mexico, stated that Tesla and its suppliers will invest more than $15 billion in a Gigafactory that is still under construction.
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Governor Samuel Garcia commented that this “enormous amount” will mean that the State will have to spend more on its infrastructure. There has been speculation that Tesla is likely to commence production at its factory in Mexico in 2025 but the company has not officially announced a start date for production.
Analysts remain sidelined about TSLA stock with a Hold consensus rating based on 12 Buys and Hold each and five Sells.