‘An Incredible Investment’: Tesla Announces Two New Factories, $3.6 Billion Investment In Nevada

Tesla Unveiled plans to build two additional factories and employ thousands more people in the state Nevada.

According to a report, the company has invested $6.2 billion in Silver State over the last nine years. press release The following are the electric automaker. The new investment of $3.6 billion will allow for updates to Gigafactory Nevada, one of the world’s highest volume plants For electric motors, batteries, and a cell plant capable of producing enough batteries to make 1.5 million vehicles per year. Also, the first Tesla Semi factory.

“Thank you to the Tesla team, our supply chain partners and the local community that has made accelerating the world’s transition to sustainable energy possible at Gigafactory Nevada,” the company’s statement said.

New facilities will provide additional employment for 3,000 people. Tesla had 6,500 employees full-time and 17,000 workers during the preceding decade to build and operate Gigafactory Nevada. The facility covers 5.4million square feet and produces 7.3Billion batteries per year.

“Nevada is open for business, effective immediately,” Gov. Joe Lombardo (R-NV). said On social media “This is an incredible investment in our state.”

Tesla CEO Elon Musk announced The Tesla Semi was revealed in 2017. It was originally planned to start production in 2019. Production would then begin at the end of 2022. The first vehicles were completed. delivered Pepsi December.

According to Tesla Semi’s claims, it can accelerate from a standing still to 60 miles an hour in 20 seconds. webpage Tesla. The vehicle’s charging costs are significantly lower than diesel alternatives. This results in an estimated $200,000 cost savings in the first three years. Software updates and fewer moving parts also reduce the need to repair.

Diesel trucks, on the other hand can travel 2,100 miles The Tesla Semi will be able to travel 500 miles on one tank. Musk stated that drivers could recharge during the launch event six-years ago.

Musk recently said Tesla has “excellent demand” And expects to “sell every car that we make for as far into the future as we can see.” The company’s third quarter automotive revenue constituted a 55% increase from the previous year, while executives expect to maintain 50% annual growth in vehicle deliveries. “The factories are running at full speed and we’re delivering every car we make, and keeping operating margins strong,” Musk made the comment.

The brand’s strong performance is despite supply chain bottlenecks The new tax incentives that encourage electric vehicle ownership are a key factor in this change. California’s Air Resources Board has recently established guidelines that mandate all new cars in the state to emit zero emissions by 2035. The governments of Massachusetts and Washington have not yet implemented these guidelines. enacted legislation Adopting the standards President Joe Biden’s Inflation Reduction Act includes $7,500 tax credit to some domestically-produced electric vehicles and $4,000 tax credit for used vehicles

Musk has however faced pressure His acquisition of Twitter was met with criticism from policymakers and investors. Many believe that it distracted the billionaire entrepreneur away from his work at the publicly-traded automaker. According to a report, net favorability for Tesla among Democrats dropped by 20.3% between October-November, the period of the acquisition. survey Morning Consult reported that the net favorability of Republicans rose 5.5% in the same time frame.