Tesla confirms $3.6B investment in new Nevada plant
MikeMareen

Tesla (NASDAQ:TSLA) confirmed plans to invest $3.6B to expand manufacturing capabilities in Nevada to produce high volumes of semi-trucks and enough cell batteries for 2M light-duty vehicles annually in the state.
The project will expand an existing 5.4M square-foot Gigafactory where the EV automaker makes batteries for electric vehicles. It will help Tesla come closer to meeting its target of producing 50,000 Tesla Semi trucks in North America in 2024.
Tesla said it has invested $6.2B in Nevada since 2014 and the new expansion will add 3,000 new jobs and two new factories to its site in the U.S. state, creating the "first high-volume Semi factory".
The first report of Tesla's massive expansion came earlier this week, and it remains unclear if the state will offer tax breaks or other incentives.
The automaker's rally has been driven by strong Q4 numbers as well, topping EPS estimates for Q4 and issuing production guidance for 2023 of around 1.8M vehicles.
Production jumped 47% Y/Y for the full year but the margin mark missed the consensus expectation of analysts. Looking ahead, hardware-related profits are expected to be accompanied with an acceleration of software-related profits.
Tesla (TSLA) rallied about 10% in Thursday's intraday trading, boosted by the release of quarterly results.