MINISO Stock Climbs as 'Black Myth Wukong' Alliance Sparks Global Excitement 
$7,500 Tax Credit Sparks Hyundai, Kia, and Genesis EV Push in Competitive US Electric Market 
Tesla Shakes Up Foundation Cybertruck Deals with Free Supercharging, Do You Qualify? 
Shocking Cyberattack Allegations Shake the US Treasury as Claims Point to China’s Involvement 
NVIDIA’s Rumored 2025 'Jetson Thor' Launch Fuels 'Robotic AI' Push in Billion-Dollar Market 
Galaxy Z Flip FE and Watch8 Classic Rumored in Database Leak as Samsung Plans August Unpacked Reveal 
Oil Prices Surge as Freezing Forecasts and Rising Diesel Demand Drive Late-Year Rally 
Xiaomi SU7 Electric Sedan Surpasses 130,000 Deliveries in Record First Year 
Shein and Temu Hit by Mexico’s New Tariffs on Asian Imports Amid Trade Crackdown 
Tesla’s Self-Driving Robotaxis Are Coming Soon, but Where Will They Roll Out First 
Mexico Launches New App to Help Migrants with U.S. Detentions Amid Heightened Border Tensions 
Apple Skips TSMC’s Pricey 2nm Chips for iPhone 17 Pro Over Steep Costs and Limited Production 
Apple Faces $95 Million Settlement Over Siri Recordings Linked to Privacy Breaches and User Ads 
Wall Street Futures Steady as Apple and Tesla Struggles Shape New Year Market Sentiment 
Apple Renames iPhone SE 4 to iPhone 16E with OLED Display, iPhone 14 Look, and Action Button Features 
Puerto Rico in Darkness Again as Grid Failure Hits New Year’s Eve Festivities 
Tesla has purchased 1,194 hectares across four properties in Nuevo Leon, Mexico, for $98.7 million. The investment reflects Tesla’s strategy to enhance its manufacturing capabilities, with potential ties to its ambitious Cybercab production goals.
Tesla's $100 Million Land Purchase in Nuevo Leon
Some 1,194 ha spread across four parcels in Santa Catarina, Nuevo Leon, were reportedly purchased by Tesla for almost $100 million, according to a recent report.
According to a Milenio report, the properties were bought by Ecological Project Mario, an LLC with Variable Capital. The manager and partner of the company was Eugenio Grandio de la Torre, a former official of Tesla.
Breakdown of Giga Mexico Property Costs
The four Giga Mexico properties cost Tesla a total of approximately $98.7 million. The land parcels and their prices:
- Plot 1: $44,906,243 for 544 hectares.
- Plot 2: $53,210,703 for 644 hectares.
- Plot 3: $576,024 for 6 hectares.
- Plot 4: $13,002 for 0.15 hectares.
The real estate was purchased from the granddaughters of Lázaro Garza González, the former governor, and is situated at Rancho El Carvajal.
Legal Details of the Land Acquisition
Notaries and registrars in the area completed the required legal procedures, and the transaction was formally recorded on March 9, 2023. Armour Secure Insurance, which is backed by Lloyd's, facilitated the transaction.
The purchase of the lands is a significant investment for Tesla, even while Giga Mexico is on hold. It further emphasizes the company's plans to increase its production capacity.
Tesla's Plans for Affordable Vehicle Production
It was originally stated that Giga Mexico would be the location where Tesla would manufacture its affordable vehicles, Teslarati points out.
The Cybercab, an automated robotaxi introduced during October's We, Robot event, is the most affordable car that Tesla has introduced thus far.
On the other hand, it is anticipated that Cybercab will undergo its first factory production in Giga, Texas, sometime during the second half of the year 2025.
However, Elon Musk mentioned in the Q3 2024 earnings call that Tesla aims to produce 2 million Cybercabs per year and possibly even 4 million. A separate factory for the Cybercab might be necessary to handle such quantities.
