Chinese Suppliers to Invest Nearly $1 Billion in Northern Mexico for Tesla Ventures, Confirms State Officials

Chinese Suppliers to Invest Nearly $1 Billion in Northern Mexico for Tesla Ventures, Confirms State Officials

Two Chinese suppliers for Tesla are set to invest close to a billion dollars in the northern Mexican state of Nuevo Leon, where the automaker is preparing to establish a new factory.

During a visit to Shanghai on Wednesday, Nuevo Leon Governor Samuel Garcia revealed this significant development. The planned investments comprise $700 million from Ningbo Tuopu Group and $260 million from Hesai Technology, as stated by a representative from Nuevo Leon.

In March, Tesla announced its intention to construct a substantial plant in the state, which already hosts some of its suppliers, representing an investment exceeding $5 billion, as described by Mexican officials. Speaking in a video recorded at Tesla's Shanghai factory, Garcia mentioned that Ningbo Tuopu Group aims to initiate production in Nuevo Leon by year-end.

As of now, the companies have not responded to requests for comments. Ningbo Tuopu Group specializes in the development of shock absorption products and other automotive components, while Hesai Technology manufactures lidar light sensors for applications such as autonomous vehicles and robots.

Nuevo Leon officials anticipate that Ningbo will generate around 10,000 jobs, and Hesai could contribute up to 4,000. Tesla has not yet commenced construction in Nuevo Leon, and the timeline for commencing production remains uncertain. Its factory in Austin, Texas, is located several hours away, just north of the U.S.-Mexico border.

"We're very pleased because all signs indicate that the Nuevo Leon site will be at least twice the size of the one in Austin," Garcia remarked, emphasizing that Tesla already procures batteries, software, computers, and other components from Nuevo Leon.

 

------This article is partly excerpted from Reuters.

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