Tech UPTechnologyTesla gets exclusive lane in Nuevo León to cross...

Tesla gets exclusive lane in Nuevo León to cross the border into the United States

Tesla already has its own lane on the border crossing road between Texas and Nuevo León, Mexico. This will allow Elon Musk’s company to reduce the transfer time for suppliers, between Texas and the Mexican state, according to a report by Bloomberg.

Recently, Tesla moved its operations from Silicon Valley, in California, to Austin, Texas, and to do so, the Texas government agreed to open this exclusive lane for the electric car manufacturer.

Tesla has six suppliers in Nuevo León, including APG Mexico and Taiwanese companies EnFlex Corp. and Quanta Computer. And, at the intersection into Austin, Texas, motorists can spend almost 30 minutes in rush-hour traffic.

But for Tesla this time will be reduced to 10 minutes thanks to this exclusive lane. Bloomberg interviewed Iván Rivas, Secretary of Economy of the state, who stated that Nuevo León is becoming a “center of electric mobility” and that the electric vehicle industry is expected to represent between 5 and 7% of the investments that they will arrive in the state in 2022.

In June, Elon Musk confirmed his interest in building other Tesla factories outside the United States, including Canada and Mexico. But nothing has yet been defined or detailed about the possible locations.

In its latest quarterly report, Tesla doubled its profits, compared to the second quarter of 2021, and expects to increase its capital (investment) expenses by billions of dollars. This after Elon Musk referred to his gigafactories as “giant money ovens.”

Tesla had planned to spend between $5 billion and $7 billion on expanding its factory facilities and other investments this year, but now plans to spend up to $8 billion.

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