Tesla to build $2.4B medical instrument factory in Mexico

Tesla is expected to open its first medical instrument manufacturing facility in Mexico and will employ more than 50 people by 2021.

The company said it expects to employ approximately 3,500 people, including around 1,000 employees from the U.S., as well as about 1,500 Mexican employees.

Tesla will begin construction in 2019, and the factory is expected be able to produce up to 10,000 medical instruments annually.

Tesla has invested more than $1 billion to build a $2 billion medical instrument plant in China, and has plans to build its own medical instrument production facility in Brazil and in Vietnam.

The Chinese company is expected later this year to begin manufacturing medical equipment for patients in the U, U.K., and France.

Tesla said in March that it is seeking a $1.4 billion loan to fund the factory, which it said will be able produce up the company’s manufacturing capacity to 15,000 units annually by 2022.