Once Upon a Farm Raises Nearly $198 Million in IPO, Valued at Over $724 Million 
CK Hutchison Launches Arbitration After Panama Court Revokes Canal Port Licences 
SpaceX Prioritizes Moon Mission Before Mars as Starship Development Accelerates 
SpaceX Pushes for Early Stock Index Inclusion Ahead of Potential Record-Breaking IPO 
AMD Shares Slide Despite Earnings Beat as Cautious Revenue Outlook Weighs on Stock 
Nintendo Shares Slide After Earnings Miss Raises Switch 2 Margin Concerns 
Nvidia Nears $20 Billion OpenAI Investment as AI Funding Race Intensifies 
Toyota’s Surprise CEO Change Signals Strategic Shift Amid Global Auto Turmoil 
Nvidia, ByteDance, and the U.S.-China AI Chip Standoff Over H200 Exports 
Alphabet’s Massive AI Spending Surge Signals Confidence in Google’s Growth Engine 
Nvidia CEO Jensen Huang Says AI Investment Boom Is Just Beginning as NVDA Shares Surge 
Nasdaq Proposes Fast-Track Rule to Accelerate Index Inclusion for Major New Listings 
Instagram Outage Disrupts Thousands of U.S. Users 
Baidu Approves $5 Billion Share Buyback and Plans First-Ever Dividend in 2026 
Missouri Judge Dismisses Lawsuit Challenging Starbucks’ Diversity and Inclusion Policies 
TrumpRx Website Launches to Offer Discounted Prescription Drugs for Cash-Paying Americans 
Sony Q3 Profit Jumps on Gaming and Image Sensors, Full-Year Outlook Raised 
Tesla announced a suspension of its Gigafactory construction in Nuevo Leon, Mexico, during its Q2 Earnings Call, citing uncertainty surrounding the upcoming U.S. Presidential Election and potential tariffs on Mexican-made vehicles. CEO Elon Musk emphasized the need to assess the political landscape.
Tesla Suspends Mexico Gigafactory Amid Election Concerns and Potential Tariff Risks
During its Q2 Earnings Call on July 24, Tesla announced that the construction of its following North American Gigafactory location in Nuevo Leon, Mexico, has been suspended in anticipation of the upcoming U.S. Presidential Election.
The decision was made during the election season, as former President Donald Trump was gaining momentum. His policies would impose tariffs on automobiles manufactured in Mexico and imported into the United States.
During the Q2 Earnings Call, CEO Elon Musk, who has expressed his unwavering support for Trump and intends to vote for him in the upcoming election, confirmed that Gigafactory Mexico's plans are on hold.
“We’re currently on pause on Giga Mexico. I think we need to see just where things stand after the election…Trump has said that he will put heavy tariffs on vehicles produced in Mexico, so it doesn’t make sense to invest a lot in Mexico if that is going to be the case. So we will kind of need to see how things play out politically.”
Tesla to Boost Production at U.S. Plants in Austin and Fremont Amid Mexican Factory Delay
Musk and Tesla have confirmed that they will significantly increase the manufacturing rates at their two current U.S. plants, fostering optimism about the company's future growth and ability to meet demand, according to Teslarati.
The locations of these factories are Austin, Texas, and Fremont, California.
During the Earnings Call, Musk discussed the plans in detail:
“We are increasing capacity at our existing factories quite significantly, and I should say that the Robotaxi will get produced here at our headquarters at Giga Texas, as will Optimus towards the end of next year for Optimus production version two; the high-volume version of Optimus will also be produced here in Texas.”
Donald Trump's campaign significantly depends on prioritizing U.S. manufacturing and purchasing U.S.-built products. He also believes EV sales goals should be set aside, enabling consumers to select the powertrains they prefer rather than incentivizing them with subsidies and tax breaks.
Mr. Musk also stated during the call that Tesla would not be as adversely affected by a Trump presidency despite the potential for "devastation" to competitors.
