AGP eGlass, a supplier of Tesla, opens a factory in Nuevo Leon

At the end of last week, German company AGP eGlass announced the opening of its new glass factory in the Monterrey, Nuevo Leon industrial market. The AGP Group subsidiary invested $800 million in this plant, which spans approximately 100,000 square meters, and is expected to begin operations in mid-2023.

"The new plant has been designed to ensure that we can produce high-quality glazing solutions more efficiently and effectively. Our new facility will also provide ample space for research and development, allowing us to explore new ideas and advance our industry," the company stated via social media.

AGP eGlass's new glass plant is in the FINSA Santa Catarina Industrial Park. According to SiiLA Market Analytics, Santa Catarina is a submarket that saw its gross absorption, or tenant arrivals, double between 2020 and 2022, with positive net absorption (tenant inflows versus outflows) and an increase in the supply of new inventory (almost 60% in two years).

This indicates that Santa Catarina is an expanding industrial zone, with demand generating space re-occupancy and occupancy of new deliveries, which explains its low availability rate (around 2%) in recent years.

At AGP eGlass's glass factory, high-tech glass will be manufactured for the Austin (Texas) plant of Tesla, the automobile company. These intelligent glass parts will be capable of changing color and projecting the vehicle instrument panel, and covering the hood, roof, and rear of some Tesla vehicles in one piece.

Since its founding in 2015, AGP eGlass has been committed to the generation of electric and autonomous vehicles. Today, its parent company, AGP Group, employs nearly four thousand people internationally and provides "high-tech glazing solutions" to more than 20 automotive firms.

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