Tesla Supplier Set to Establish Factory in New Mexico
🚗 Tesla Supplier Set to Establish Factory in New Mexico.
Auto parts manufacturer Hota Industrial Manufacturing is planning to invest $72 million in setting up a facility in Santa Teresa, New Mexico. The Taiwanese company, which produces automotive gears for electric vehicle (EV) makers like Tesla, aims to begin construction on the plant next year. The new facility is expected to generate 350 jobs initially, with the potential for future expansion over the next decade. Hota currently operates four manufacturing plants in Taiwan and one in China, producing nearly 20 million transmission gears annually. The decision to establish the factory in New Mexico was influenced by the location's proximity to the Santa Teresa Port of Entry, which serves as a key transport hub for the El Paso and Juarez industrial regions. The investment reflects Hota's aggressive expansion plans to meet the growing demand for EVs and strengthen its global supply chain. This development marks a diversification in New Mexico's manufacturing sector, traditionally focused on computer and electronic manufacturing, petroleum, and food and beverage industries.
A few years back, Hertz took a bold step by purchasing 30,000 Teslas, aiming to electrify 20% of its rental fleet.