MEXICO CITY—Tesla will open a gigafactory in Mexico, Chief Executive Elon Musk said on Wednesday, as the electric vehicle behemoth pushes to expand its global output.
Mexico on Tuesday said Tesla had chosen the northern border state of Nuevo Leon for a new factory worth more than $5 billion, calling it the “the biggest electric vehicle plant in the world.”
Tesla will ramp up output at all of its gigafactories, Musk said at an Investor Day event Austin, Texas. The company laid out plans to cut assembly costs by half in future generations of cars and discussed its innovation in managing operations from manufacturing to service….