Elon Musk announced on Tuesday that he will halt construction of the Tesla vehicle assembly plant planned for Nuevo León, in northern Mexico. The businessman explained that he will wait for the results of the US elections, which will be held on November 5, to decide whether the project will go ahead. The billionaire’s reason for halting the investment is the intentions of Republican candidate Donald Trump to apply tariffs to cars manufactured in Mexico. “It makes no sense to invest in Mexico if that’s going to happen,” Musk said in a conference call with analysts and the media.
Construction on Tesla’s megafactory in Santa Catarina, in the metropolitan area of Monterrey, is scheduled to begin in 2026. Now its future will be tied to what happens in the White House from January onwards. “I think we have to see what happens with the election. Trump has said that he will put tariffs on vehicles produced in Mexico,” Musk said. The businessman has fervently supported the Republican candidate, for whom he asked for votes after the attempted assassination that Trump suffered during a rally on July 13. A day earlier, the richest man in the world had positioned himself by making a significant donation to an action committee linked to the Republican candidate.
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