Expansion plans include updates and upgrades to existing factories.
Musk, on Tesla’s Investor Day, confirmed that the Cybertruck is coming this year.
Not a day goes by without a Tesla story. The latest ones originate from yesterday’s Tesla Investor Day where Elon Musk, you know who he is, outlined future plans for the automaker but only dropped hints about new products.
The most notable bit of news is the addition of Mexico as a sight for a future assembly plant.
“We’re excited to announce the next Tesla Gigafactory will be in Mexico near Monterrey,” Musk said at the company’s Investor Day event at its Austin, Texas, factory. Monterrey is the capital of the Mexican state of Nuevo Leon, which shares a border with Texas. We will continue to expand production at all of our existing factories,” Musk said Wednesday as reported by Automotive News, naming facilities in California, Texas, Nevada, Germany, and China. “So GigaMexico would be supplemental to the output at all other factories.”
No one specified which vehicle will be built in Mexico however some speakers hinted that plans are in the works for a more affordable Tesla product. Other notable details included the existence of a new platform that could underpin many new vehicles.
Musk added that: “The desire for people to own a Tesla is very high” and that “The limiting factor is affordability.” During the presentation, Tesla executives highlighted novel manufacturing and engineering efficiencies, among other points, that will potentially reduce production costs for the new vehicle platform by 50% in comparison to the compact platform utilized for both the Model 3 sedan and Model Y platform.
As well, the Cybertruck is coming this year, according to Tesla, with volume production planned for 2024.
