Tesla to invest over $3.6 billion to build two new factories in Nevada By Reuters
World 13 minutes ago (Jan 24, 2023 06:01PM ET)
(C) Reuters. FILE PHOTO: A view shows the Tesla logo on the hood of a car in Oslo, Norway Nov. 10, 2022. REUTERS/Victoria Klesty
(Reuters) -Tesla Inc said on Tuesday it would invest more than $3.6 billion to build two new factories in the U.S. state of Nevada, including the first facility to mass produce its Semi electric heavy-duty truck.
The other factory will be dedicated to battery production and will have the capacity to make enough batteries for 2 million light-duty vehicles annually.
Together, the plants will employ about 3,000 people.
Unveiled in 2017, the Semi was initially expected to go into production in 2019 but its first delivery was delayed to December, when Chief Executive Elon Musk handed a vehicle to PepsiCo (NASDAQ:PEP). The move marked Tesla (NASDAQ:TSLA)’s first foray into the trucking business.
Tesla to invest over $3.6 billion to build two new factories in Nevada
(C) 2007-2023 Fusion Media Limited. All Rights Reserved.
Risk Disclosure: Trading in financial instruments and/or cryptocurrencies involves high risks including the risk of losing some, or all, of your investment amount, and may not be suitable for all investors. Prices of cryptocurrencies are extremely volatile and may be affected by external factors such as financial, regulatory or political events. Trading on margin increases the financial risks.Before deciding to trade in financial instrument or cryptocurrencies you should be fully informed of the risks and costs associated with trading the financial markets, carefully consider your investment objectives, level of experience, and risk appetite, and seek professional advice where needed.Fusion Media would like to remind you that the data contained in this website is not necessarily real-time nor accurate. The data and prices on the website are not necessarily provided by any market or exchange, but may be provided by market makers, and so prices may not be accurate and may differ from the actual price at any given market, meaning prices are indicative and not appropriate for trading purposes. Fusion Media and any provider of the data contained in this website will not accept liability for any loss or damage as a result of your trading, or your reliance on the information contained within this website.It is prohibited to use, store, reproduce, display, modify, transmit or distribute the data contained in this website without the explicit prior written permission of Fusion Media and/or the data provider. All intellectual property rights are reserved by the providers and/or the exchange providing the data contained in this website.Fusion Media may be compensated by the advertisers that appear on the website, based on your interaction with the advertisements or advertisers.