Search Site

Trends banner

Tesla Q1 sales sink 13 percent

The dip occurred amid lower production during factory upgrades.

AD Ports Group 2024 revenue $4.70bn

The Group's EBITDA increased by 69 percent YOY.

Tesla sales tumble in Europe in Q1

The company suffered from boycotts against the policies of Elon Musk.

Ford’s US Q1 auto sales dip

But its Q1 figures exceed a forecast by Edmunds

Vanke reports annual loss of $6.8 bn

The property giant attributes loss to falling sales and shrinking profit.

Tesla to open plant in Mexico

Mexican President Andres Manuel Lopez Obrador. AFP
  • "The plant is going to be established in Monterrey," Lopez Obrador told reporters after speaking with Musk.
  • He said the US company had promised to address the problem of water scarcity in Monterrey.

Mexico City, Mexico – Elon Musk’s electric carmaker Tesla will open a plant in northern Mexico making a significant investment in the Latin American nation, Mexican President Andres Manuel Lopez Obrador announced Tuesday.

“The plant is going to be established in Monterrey,” Lopez Obrador told reporters after speaking with Musk.

The factory was expected to be “very big” and would bring “a considerable investment and many jobs,” he added.

He said the US company had promised to address the problem of water scarcity in Monterrey, an industrial powerhouse home to transnational firms a few hours’ drive from the US border.

“He was very receptive, understanding our concerns,” with measures expected to include the use of recycled water, Lopez Obrador said, adding that the company would announce more details soon.

Mexico declared a drought emergency in July last year and authorities in parts of the country, including Monterrey, were forced to ration water use due to depleted reservoirs.