Get 40% Off
🔥 This hedge fund gained 26.16% in the last month. Get their top stocks with our free stock ideas tool.See stock ideas

Tesla's Musk eyes potential investment in Mexican border state -sources

Published 10/24/2022, 03:16 PM
Updated 10/24/2022, 03:55 PM
© Reuters. FILE PHOTO: Tesla founder Elon Musk attends Offshore Northern Seas 2022 in Stavanger, Norway August 29, 2022. NTB/Carina Johansen via REUTERS
TSLA
-

MEXICO CITY (Reuters) -Tesla Inc Chief Executive Elon Musk is considering investing in the northern Mexican state of Nuevo Leon, which borders Texas, two people with knowledge of the matter said on Monday.

Musk recently held a meeting in the state with Nuevo Leon Governor Samuel Garcia along with other local officials and Ken Salazar, the U.S. ambassador to Mexico, one of the sources said.

Musk is looking in particular at Santa Catarina, a municipality on the outskirts of state capital Monterrey, one of Mexico's biggest and wealthiest cities, the person added. The sources did not detail what Musk's potential investment may entail.

A spokesperson for the Nuevo Leon government declined to comment. Neither Tesla (NASDAQ:TSLA), the U.S. embassy, nor a representative for Santa Catarina immediately responded to requests for comment.

Musk's visit to Nuevo Leon was originally reported by Mexican media. Several outlets published photos of Musk apparently from the visit, including one in which he appears with Garcia's wife, Mariana Rodriguez.

Garcia posted several of the media articles on his Instagram account, in one case tagging Rodriguez's account and writing, "Look, look," without further comment.

Tesla, based in Austin, Texas, has its own lane at the U.S.-Mexico border crossing in Nuevo Leon to facilitate trade for local suppliers, the state government said in August.

Latest comments

Risk Disclosure: Trading in financial instruments and/or cryptocurrencies involves high risks including the risk of losing some, or all, of your investment amount, and may not be suitable for all investors. Prices of cryptocurrencies are extremely volatile and may be affected by external factors such as financial, regulatory or political events. Trading on margin increases the financial risks.
Before deciding to trade in financial instrument or cryptocurrencies you should be fully informed of the risks and costs associated with trading the financial markets, carefully consider your investment objectives, level of experience, and risk appetite, and seek professional advice where needed.
Fusion Media would like to remind you that the data contained in this website is not necessarily real-time nor accurate. The data and prices on the website are not necessarily provided by any market or exchange, but may be provided by market makers, and so prices may not be accurate and may differ from the actual price at any given market, meaning prices are indicative and not appropriate for trading purposes. Fusion Media and any provider of the data contained in this website will not accept liability for any loss or damage as a result of your trading, or your reliance on the information contained within this website.
It is prohibited to use, store, reproduce, display, modify, transmit or distribute the data contained in this website without the explicit prior written permission of Fusion Media and/or the data provider. All intellectual property rights are reserved by the providers and/or the exchange providing the data contained in this website.
Fusion Media may be compensated by the advertisers that appear on the website, based on your interaction with the advertisements or advertisers.
© 2007-2024 - Fusion Media Limited. All Rights Reserved.