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Tesla to invest over $3.6 billion to build two new factories in Nevada

01/24/2023 | 05:57pm EST
FILE PHOTO: A view shows the Tesla logo on the hood of a car in Oslo

(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. The move marked Tesla's first foray into the trucking business.

(Reporting by Akash Sriram and Aditya Soni in Bengaluru; Editing by Devika Syamnath)


ę Reuters 2023
Stocks mentioned in the article
ChangeLast1st jan.
PEPSICO, INC. -0.35% 169.62 Delayed Quote.-4.83%
TESLA, INC. 11.00% 177.9 Delayed Quote.30.11%
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