"Mexico remains committed to Tesla factory as infrastructure spending is promised"

Mexico's Nuevo Leon state confirms that Tesla still plans to build a factory in the region, despite CEO Elon Musk expressing uncertainty about the project's timing due to global economic factors. The government will invest over $130 million in infrastructure to support the construction. The Tesla project, estimated to cost $5 billion, is seen as a significant example of the "nearshoring" trend, with companies moving production closer to the United States. Construction is expected to begin in the first half of 2024. Tesla suppliers in Mexico are also expected to continue expanding, anticipating global demand.