Tesla Pauses Mexico Factory Plans Amid Economic Worries

Tesla has confirmed it is slowing down plans for Gigafactory Mexico amid worries about the global economy.

Tesla was originally aiming to break ground and start production quickly at Gigafactory Mexico.

CEO Elon Musk said Tesla wants to get a sense of the global economy before going "full tilt" on the factory.

Musk complained about the impact of high interest rates on Tesla's business.

Tesla still has room to grow production at Gigafactory Texas if Mexico plans slow down.