Tesla plans $776 million Texas gigafactory expansion, wants plant in Indonesia
has applied to expand its gigafactory in Texas with an investment totaling $775.7 million, government filings showed, marking one of its largest expansion drives since setting up the $5.5 billion gigafactory in Germany last year.
The world's most valuable automaker has been facing COVID-driven production and logistics snags at its key Shanghai hub, coupled with growing demand concerns. The company is expected to host its investor day on March 1 at the Austin facility and will likely disclose plans for expansion and capital allocation.Plans for Indonesia, Mexico
And Bloomberg reported that Tesla is close to a preliminary deal to set up a factory in Indonesia, according to people familiar with the matter, to capitalize on the Southeast Asian nation’s reserves of keyThe plant would produce as many as 1 million cars a year, the sources said, in line with Tesla’s ambition for all its factories globally to eventually reach that capacity.
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