Tesla Inc. said Tuesday it plans to spend $3.6 billion to expand its Sparks, Nev., gigafactory where it currently makes batteries and electric-vehicle parts.
The announcement came a day before the EV maker reports crucial quarterly earnings, and after CEO Elon Musk completed his third day of testimony in a trial over shareholder losses following tweets he made in 2018 about taking Tesla private. Tesla said the battery facility would have capacity to produce “enough batteries for 2 million light duty vehicles annually.” In early January, Tesla said it delivered about 1.31 million vehicles in 2022. Analysts expect Tesla to increase deliveries to about 1.92 million in 2023.Earlier this month, Tesla applied for a nearly billion-dollar expansion of its factory in Austin, Texas, according to government filings.
Tesla shares TSLA, +0.10% fell 2% in after-hours trading Tuesday, and have sunk 53% over the past 12 months, compared to the S&P 500’s SPX, -0.07% 8% decline over that time.
We have summarized this news so that you can read it quickly. If you are interested in the news, you can read the full text here. Read more:
United States Latest News, United States Headlines
Similar News:You can also read news stories similar to this one that we have collected from other news sources.
Tesla To Announce $3.5B Nevada Plant For The Semi Today: GovernorLombardo said Tesla will build 'a brand new $3.5 Billion-dollar advanced manufacturing facility in northern Nevada for the company's all-electric semi-trucks.' So twitter is worth 11 semi truck plants. And you can't even do anything with it. By my count that's 4 new plants they've 'announced'in the last quarter. All without buying land or starting construction... L.Ron must be getting set to pump and dump more stock to pay fines, rent, interest, and the blue bird!
Source: InsideEVs - 🏆 579. / 51 Read more »
Tesla Set to Announce $3.5 Billion Manufacturing Plant in NevadaNevada's governor has said Tesla is planning to bring a new facility into the state where its electric semi-truck will be built.
Source: CARandDRIVER - 🏆 576. / 51 Read more »
Here are Tuesday's biggest analyst calls: Apple, Disney, Target, AMD, Tesla, Coinbase, Amazon & moreHere are Tuesday's biggest calls on Wall Street. Boycott Tesla
Source: CNBC - 🏆 12. / 72 Read more »
Tesla earnings will be 'most important' in history, Tesla bull saysTesla is slated to report fourth-quarter earnings after the bell Wednesday, and a known Tesla bull is calling the report "one of the most important in... Boycott Tesla Wow! $1.13? Things are really bad for Tesla!
Source: MarketWatch - 🏆 3. / 97 Read more »
Nevada to consider bill allowing noncitizens to serve on police forces amid staffing shortagesThe Nevada Assembly will consider a bill that would open the ranks of police officers in the state to noncitizens who are eligible to work in the U.S. and pass a background check. Awesome! Who cares ? No Non citizen is consider as a green card holder. A person who lives in Thea country legally paying taxes. What's the big deal?
Source: FoxNews - 🏆 9. / 87 Read more »
Officials air findings in Nevada shooting that left 4 deadAuthorities in Nevada aired the results of the investigation of the November 2020 police killing of a man in a vehicle after he shot two women dead in an apartment, wounded a teenage girl and abducted a 12-year-old boy who died in gunfire as police approached their vehicle
Source: WOKVNews - 🏆 247. / 63 Read more »