Image default

Chinese Tesla Supplier Invests $100M in Mexico Plant


Noah Itech began construction of its first plant in Mexico, which will be located in the Santa Catarina County of Monterrey, the capital of the state of Nuevo Leon, to supply two of the biggest names in the automotive industry: Tesla and General Motors.

Noah Itech building Mexico two
Noah Itech began construction of its first plant in Mexico, which will be a supplier to Tesla and General Motors.

The Chinese company provides design, installation and automation support for the 3Cs of manufacturing: computing, communication and consumer electronics industry is known.

Noah Itech is investing $100 million to build the plant, creating 100 highly specialized jobs. The new plant will become a R&D Center for automation and electronics technology specialized in the automotive sector.

The company´s customers list includes GM and Tesla assembly plants, Facebook and electromobility companies like Quanta Computer Mexico, a Tier 1 Tesla supplier.

It is expected that Noah Itech Mexico will start operations at the end of Q2 2023.

Plants o’ plenty

The arrival of Noah Itech to the northern state of Nuevo Leon fuels speculation about the imminent arrival of a Tesla plant to this state, as Tesla CEO Elon Musk recently visited Monterrey, its capital city.

However, Tesla´s recent woes could complicate the construction of this new and rumored plant in Mexico.

Local newspaper Reforma reported in December that Tesla was set to announce the construction of a gigafactory in the northern Mexican state of Nuevo Leon, with an initial investment of between $800 million and $1 billion.

There have been numerous reports of discussions between Musk and Mexican officials in recent months, with one report indicating Tesla has even negotiated to have a special lane set up at the border crossing to speed up access to its planned factory.

In fact, the initial investment could rise tenfold, according to reports. The push to $10 billion would expand the plant’s initial production from parts for shipment to other facilities to making it Gigafactory Mexico adding vehicle assembly and battery production.


Source link

Related posts

Genesis X Convertible Concept Could Wind Up in Production

Charles Sylva

First Look: Lucid Air Sapphire

Charles Sylva

Tesla Refunds Some Cybertruck Orders — But Is It Killing the Truck in Australia?

Charles Sylva