Northern Mexico prepares for construction of new Tesla factory

Global Business

Seven months ago, Tesla announced it would build a $5 billion GigaFactory in northern Mexico. Fast forward to today.

That construction has still not started. But officials in the northern Mexican state of Nuevo Leon say Tesla now has all the permits it needs to build its next big factory.

By building in Mexico, Tesla aims to compete with the world’s best-selling and affordable electric vehicles from China, including those from top-seller BYD.

CGTN’s Franc Contreras has more from Mexico City.