What's the story Tesla CEO Elon Musk had put the plans for a new gigafactory in Mexico on hold in 2023, pending the outcome of the US presidential election. Now, Musk's fears have been confirmed with Donald Trump announcing a 25% tariff on products from Mexico. The president-elect has promised to impose these tariffs on all goods from the country, and plans to sign an executive order on his first day in office. So, what does it mean for Tesla? Let's see. Gigafactory details Musk's stance on investing in Mexico amid tariffs During a Tesla earnings call in July, Musk had expressed his reservations about investing heavily in Mexico due to Trump's proposed tariffs on vehicles produced there. He had said, "We kind of need to see where things play out politically." If the gigafactory plan materialises somehow, locals would get more jobs, and the EV maker would have a source of cheaper labor to build its cars. Now, how Tesla navigates Trump's Mexico policy remains to be seen. Facebook