Tesla supplier Hota Industrial Mfg. Co from Taiwan will invest $99 million to build its first factory outside of Asia in Santa Teresa, New Mexico. Hota cites reasons for the investment as regional production being emphasized more in supply chains due to COVID-19 and the US-China trade war, as well as proximity to North American customers which make up 60% of its sales. New Mexico Governor Michelle Lujan Grisham hopes the factory benefits its infrastructure and manufacturing expertise. The state is providing $3 million in funding for the project.