Tesla set to announce up to $1B investment for factory in Mexico
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Tesla (NASDAQ:TSLA) is due to announce a new Gigafactory in Mexico with an initial investment of up to $1B, according to local media. 

The factory could be announced as early as this week, but could also be postponed until after the Christmas holiday, Mexican outlet Reforma reported. If not this week, January would be a more likely announcement timeframe, according to the outlet.

The automaker is expected to make an initial investment in the range of $800M to $1B in the plant planned for construction in the northern state of Nuevo Leon. Musk had previously made a visit to the state in October. Mexican outlet Milenio specified further that the factory is likely to be built outside of Monterrey in a recent report.
Read more on reported production cuts at the Shanghai Gigafactory.