- Tesla is pouring additional resources into its Nevada battery factory because it looks to ramp up production.
- The corporate’s $3.6B investment will add 3,000 jobs and 4 million square feet to its manufacturing footprint.
- Elon Musk has set a goal for Tesla to deliver 20 million cars annually by 2030.
Tesla is pouring more resources into its Nevada Gigafactory, in keeping with an organization announcement.
The EV maker said Tuesday it plans to speculate $3.6 billion, add 3,000 additional jobs, and construct two factories at Tesla’s facility just outside Sparks, Nevada.
The brand new factories will construct battery cells for light-duty vehicles and Tesla’s Semi truck, which began making deliveries early last month after years of delay.
In accordance with a tweet by the corporate, Tesla’s additional investment will add 4 million square feet to the Nevada factory’s manufacturing footprint.
The corporate has plans for the factory to be the biggest constructing on the earth, though as of now, it’s only about 30% complete, according to CNBC.
Tesla’s Gigafactories, that are situated in Texas, Shanghai, Berlin, and Nevada, construct batteries for the corporate’s electric vehicles.
The large investment comes as EV competition within the US heats up as traditional automakers add more electric vehicles to their lineups.
To compete, Elon Musk’s company has begun offering steep discounts for a few of its cars: prices of the corporate’s Model 3 and Model Y have been slashed by as much as 20%, in keeping with a calculation by Reuters.
The corporate has said it must ramp up production so as to meet Musk’s goal of delivering 20 million cars per 12 months by 2030. In 2022, Tesla delivered 1.31 million vehicles, a 40% increase from the 12 months before.