Tesla announces 36 billion investment to expand mega factory in Nevada

Tesla announces $3.6 billion investment to expand mega-factory in Nevada

American electric car maker Tesla announced in a press release on Tuesday that it would invest “more than $3.6 billion” in expanding its Nevada factory, which will notably manufacture its electric truck called the Semi.

• Also read: Elon Musk defends his 2018 Tesla tweets in court

• Also read: Elon Musk announces a new, more expensive subscription to block ads on Twitter

“We will invest more than $3.6 billion more to continue development of the Gigafactory in Nevada,” Tesla said in its statement.

That’s an amount slightly higher than the initial investment to build the factory, which totaled $3.5 billion in 2014, Tesla recalls.

In reality, two new factories will be built, the manufacturer specifies: the first will produce cells for the batteries, with “capacity to produce enough batteries for 1.5 million light vehicles per year”, and the second will be the “Semi’s First High “ be -volume manufacturing plant”.

Tesla plans to hire 3,000 employees there.

The Nevada plant is Tesla’s first “megafactory” and began producing batteries in 2017.

Since announcing construction in 2014, Tesla says it has invested $6.2 billion in Nevada and hired more than 11,000 people directly.

Tesla today has four “mega-factories” in addition to the one in Nevada: New York, Shanghai, Berlin and most recently the one in Texas, which covers an area the size of a hundred football fields and has been operational since the end of 2021.