Mexican president says Tesla will build a new plant in Mexico

Tesla volition physique a caller works successful Monterrey, Mexico, and adhere to a bid of commitments to code h2o scarcity, the nation's president announced astatine a property league Tuesday.

President Andrés Manuel López Obrador, oregon AMLO, arsenic helium is known, said Tesla agreed to usage recycled h2o astatine the works passim the full conveyance manufacturing process, adjacent down to the cars' paint. He said the institution volition uncover much accusation astir the caller works during its Investor Day lawsuit Wednesday.

AMLO said helium spoke to Tesla CEO Elon Musk connected Friday and Monday.

"He was precise responsive— knowing our concerns and accepting our proposals," AMLO said. CNBC translated the president's remarks from Spanish to English.

AMLO said the works volition beryllium a sizeable investment, and that it volition effect successful "many, galore jobs."

Monterrey is an concern metropolis adjacent the U.S.-Mexico border, and it has agelong been considered a frontrunner for concern from Tesla. The institution presently has 2 different car plants extracurricular of the U.S. located successful China and Germany.

"I privation to convey Mr. Elon Musk, who was precise respectful and understood the value of addressing the occupation of h2o scarcity," AMLO said.

Tesla's Investor Day volition beryllium live-streamed connected Twitter and YouTube from Texas Wednesday.