San Francisco, Mar 1 (IANS): Elon Musk has chosen Mexico for the next Tesla Gigafactory and will reveal more about it during the company's investor day.

Mexican President Andres Manuel Lopez Obrador said that Tesla agreed to use recycled water at the plant in Monterrey throughout the manufacturing process.

"He (Musk) was very responsive, understanding our concerns and accepting our proposals," said the President.

Musk is expected to present the long-awaited and often teased 'Master Plan 3' during the investor day on March 1 (US time) at the company's Gigafactory Texas located near Austin, Texas, reports TechCrunch.

Tesla has several factories in the US, including in Fremont, California.

The electric car-maker also has factories near Berlin and Shanghai.

US automakers Ford and GM, German automaker Volkswagen and Japanese companies Honda, Nissan and Toyota have vehicle assembly plants in Mexico.

GM, Kia and Stellantis have factories in Monterrey.

"I want to thank Elon Musk, who was very respectful and understood the importance of addressing the problem of water scarcity," the Mexican President was quoted as saying in reports.

Musk was reportedly touring three Mexican states in December 2022. It was reported locally that the automaker plans an initial investment of $800 million to $1 billion.