During Tesla’s Investor Day event in Austin, Texas, CEO Elon Musk made an announcement regarding the location of the company’s sixth Gigafactory. The new Gigafactory will be situated in Nuevo León, Mexico, just south of the Texas border, and will be referred to as the Monterrey Gigafactory.

After being confirmed by Mexico’s President, Andres Manuel Lopez Obrador, yesterday, Tesla has now officially announced the news that had been anticipated for months.

The company has unveiled a render of their new factory, which will produce vehicles based on the automaker’s new platform, but no further details have been released. The timeline for the project is unknown, but a quick regulatory process has been negotiated with the government. Monterrey was chosen due to its proximity to Tesla’s headquarters and Gigafactory Texas, which will allow for an efficient travel deal between the sites.

Image: Tesla

In order to meet their ambitious production targets and continue their rapid expansion, Tesla has stated that they will need to build a total of eight new Gigafactories. While the automaker has already announced several new locations for these facilities, such as in Germany and Texas, it’s clear that there are more to come.

Given the company’s track record of rapidly scaling up production at their existing Gigafactories, it’s likely that Tesla is looking to build these new factories as quickly as possible. This could mean that they will need to secure locations, obtain necessary permits and approvals, and begin construction all within a relatively short timeframe.

Despite these challenges, however, Tesla appears to be well-positioned to continue their impressive growth in the coming years. They aims to increase the affordability and accessibility of electric vehicles for consumers around the world, this will not only benefit Tesla as a company, but it will also help to accelerate the transition to a more sustainable energy future which is the company’s mission.