Nearshore Americas

Nearshore Forum: High Expectations For Tesla’s Landing In Monterrey

It’s been a couple months since Elon Musk confirmed his plans for a Tesla mega-factory in Monterrey, but the announcement is still making waves in the Mexican city, located a couple hours away from the Texas border.

Expectations are flying high for the US$5 billion investment. Local authorities hope for up to 6,000 jobs created directly by the company, and there’s already talks of local universities modifying several of their academic programs to meet Tesla’s business needs.

Though most of the buzz has come from the manufacturing arm of Monterrey’s economy, the local tech ecosystem expects to see high dividends too. Given Tesla’s –and Musk’s– profile in the worlds of tech development, software and R&D, players within Monterrey’ tech cluster (CSOFTMTY) see the company’s investment as a chance to consolidate the city’s status as a software hub with potential for cross-border trade.

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In this Nearshore Forum, NSAM spoke with CSOFTMTY’s General Director, Angeles Vela del Rio. Angeles provides a look into the high expectations for Tesla’s arrival in Monterrey, while also explaining how the company’s presence in Texas has already affected the tech ecosystems of all of Mexico’s northern strip. She also shares data on how the local landscape is being transformed by the needs of other big tech players –like Google, Microsoft and Amazon– who have made Monterrey a ground for recruitment.

You can watch the complete interview below:

Cesar Cantu

Cesar is the Managing Editor of Nearshore Americas. He's a journalist based in Mexico City, with experience covering foreign trade policy, agribusiness and the food industry in Mexico and Latin America.

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