Elon Musk-led Tesla Invests $3.6 Billion in Nevada Gigafactory Complex, Details Here

Elon Musk-led Tesla has announced an investment of over $3.6 billion for expansion of its Nevada Gigafactory complex. The world’s largest EV maker shared its investment plan for the Giga Nevada on Twitter. The expansion bid involves two new factories at the complex.

Also Read: Electric Two-Wheeler Sales to Grow Beyond 22 Million by 2030

“Today, we are announcing $3.6B of new investment in Giga Nevada. – 4M sq ft of new manufacturing footprint – 3k additional team members – 2 new manufacturing facilities: a 100 GWh 4680 cell factory and our first high-volume Semi factory,” Tesla tweeted.

Tesla’s Giga Nevada is one of the main factories of the company. Since its opening in 2014, this plant has successfully produced 7 billion battery cells, 1.5 million battery packs, 3.6 million drive units and 1 million energy modules.

The news that Tesla’s new manufacturing facility in northern Nevada will now manufacture electric Semi trucks is likely to spice up the competition in the truck market as companies like Daimler and Volvo are just beginning to sell battery-powered vehicles.

Carmakers like General Motors, Ford Motor and Volkswagen had come under similar pressure when Tesla’s electric cars became a success in the US and other global markets.

While the leading truck makers have said that they are committed to producing zero-emission vehicles, the market continues to be dominated by diesel fuel vehicles. The entry of Tesla’s truck, first unveiled in 2017, is expected to upend the industry.

The investment in a dedicated Semi manufacturing facility suggests that Tesla is finally committing to large-scale production of its long-delayed electric truck. The company made the first Semi deliveries in December 2022 to PepsiCo. Tesla’s Semi truck will have a range of 500 miles, which is suitable for relatively short routes.

On the other hand, the new cell plant at Giga Nevada would be able to churn out enough batteries for 2 million light-duty vehicles annually, including 4680-type cell batteries which are a key to Tesla’s goal of halving battery costs and ramping up battery production nearly 100-fold by 2030.

Together, the new facilities will employ about 3,000 people, extending the electric vehicle maker’s Gigafactory complex. Tesla currently runs a battery joint venture with Japan’s Panasonic Corp, which makes vehicle parts and power backup systems at Giga Nevada.

Read all the Latest Auto News here

Elon Musk-led Tesla has announced an investment of over $3.6 billion for expansion of its Nevada Gigafactory complex. The world’s largest EV maker shared its investment plan for the Giga Nevada on Twitter. The expansion bid involves two new factories at the complex.

Also Read: Electric Two-Wheeler Sales to Grow Beyond 22 Million by 2030

“Today, we are announcing $3.6B of new investment in Giga Nevada. – 4M sq ft of new manufacturing footprint – 3k additional team members – 2 new manufacturing facilities: a 100 GWh 4680 cell factory and our first high-volume Semi factory,” Tesla tweeted.

Tesla’s Giga Nevada is one of the main factories of the company. Since its opening in 2014, this plant has successfully produced 7 billion battery cells, 1.5 million battery packs, 3.6 million drive units and 1 million energy modules.

The news that Tesla’s new manufacturing facility in northern Nevada will now manufacture electric Semi trucks is likely to spice up the competition in the truck market as companies like Daimler and Volvo are just beginning to sell battery-powered vehicles.

Carmakers like General Motors, Ford Motor and Volkswagen had come under similar pressure when Tesla’s electric cars became a success in the US and other global markets.

While the leading truck makers have said that they are committed to producing zero-emission vehicles, the market continues to be dominated by diesel fuel vehicles. The entry of Tesla’s truck, first unveiled in 2017, is expected to upend the industry.

The investment in a dedicated Semi manufacturing facility suggests that Tesla is finally committing to large-scale production of its long-delayed electric truck. The company made the first Semi deliveries in December 2022 to PepsiCo. Tesla’s Semi truck will have a range of 500 miles, which is suitable for relatively short routes.

On the other hand, the new cell plant at Giga Nevada would be able to churn out enough batteries for 2 million light-duty vehicles annually, including 4680-type cell batteries which are a key to Tesla’s goal of halving battery costs and ramping up battery production nearly 100-fold by 2030.

Together, the new facilities will employ about 3,000 people, extending the electric vehicle maker’s Gigafactory complex. Tesla currently runs a battery joint venture with Japan’s Panasonic Corp, which makes vehicle parts and power backup systems at Giga Nevada.

Read all the Latest Auto News here