Trina Solar to Invest in Nuevo Leon

During an official visit to China, Nuevo Leon Governor Samuel Garcia held a meeting with Trina Solar executives, in which the company agreed to invest between US$700 million and US$1 billion in the state of Nuevo Leon. The statement did not provide details regarding the investment's execution or its timeline, however.

As part of his Asian tour to attract new investments to the state, García is embarking on an extensive journey through China and Japan. The local government has revealed that during his trip, García will conduct seminars for companies interested in establishing operations in Nuevo Leon, with a particular focus on prominent automotive companies like Nissan, Toyota and Mazda.

On Oct. 16, 2023, García arrived in Beijing, China. His priority was to engage with Tojoy Beijing, a top-tier business platform in the city dedicated to promoting innovative businesses. García will also meet with China-based Changan Automobile and the leading technology giant Huawei. Subsequently, García will travel to Shanghai, with the goal of finalizing an investment agreement with Toupu, a prominent firm specializing in automotive spare parts production and the development of smart driving technologies.

The Nuevo Leon trade mission will also tour Tesla's China Gigafactory and hold discussions with JL Mag, a key supplier to Tesla in Nuevo Leon and Apple at the global scale.

Emmanuel Loo, Deputy Minister of Investment at Nuevo Leon’s Ministry of Economy, has disclosed that construction for Tesla's upcoming manufacturing plant in Nuevo Leon is anticipated to for early 2024. The company is expected to break ground toward the end of 2023 or in early 2024, with the primary goal of having the facility fully operational and producing electric vehicles by 2026. Loo has underscored the local authorities' dedication to streamlining the permitting process. "We are making every effort to fast-track the required permits. We hope that the project can commence later this year or in early 2024," he said.

Tesla has committed an initial investment of US$5 billion to build a factory spread across 260ha, with plans to create 5,000 new jobs. There is potential for further investment in the coming years, akin to the expansion observed at the company's Austin, Texas facility. 

Loo indicated that the proximity to Austin and the potential for synchronization between the facilities could lead to significant growth in this project. Currently, around 2,000 trucks carrying components from Nuevo Leon arrive at the Texan facility on a weekly basis.

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