Sparks, NV — Tesla plans to invest $3.6 billion to expand manufacturing capacity in Nevada, and higher software-related earnings were reflected in last year’s record fourth-quarter net profit reported Wednesday. We are confident that we can maintain higher margins than any other automaker.
The company confirmed plans to mass-produce semi trucks and produce enough cell batteries for two million small cars a year in Nevada.
Nevada Gov. Joe Lombardo announced himself and the CEO late Tuesday after announcing in his first state address Monday night that Tesla had committed to building a “brand new” manufacturing facility for electric trucks. Posted a picture of Elon Musk on Twitter. Northern Nevada.
The project is actually an expansion of existing operations at the Truckee Reno Industrial Center, approximately 20 miles (32 kilometers) east of Reno Sparks on Interstate 80. But the plan is one step closer to achieving previously announced plans to beef up the Tesla Semi. In 2024 he plans to produce 50,000 trucks in North America.
The White House announced plans on Tuesday as Musk concluded his three-hour testimony in a class action lawsuit in San Francisco federal court over the manipulation of Twitter, one of three major companies he owns, including Tesla and SpaceX. issued a publicity statement.
Musk’s impulsive and sometimes inflammatory Twitter use drew attention Wednesday as proceedings continued Wednesday in a lawsuit alleging he misled Tesla shareholders in 2018 with a tweet about declining the acquisition.
Mitch Landrieu, President Joe Biden’s head of infrastructure, said Tuesday that Tesla’s additional investment in Nevada is evidence of an ongoing “manufacturing boom” since Biden took office two years ago. He said the expansion will create 3,000 jobs in Nevada while promoting clean energy and enhancing US security.
Lombardo tweeted a picture late Tuesday of him with Musk at Tesla’s “Gigafactory,” located on an industrial park east of Reno Sparks, which makes batteries for electric vehicles.
“This is an incredible investment in our state,” wrote Lombardo.
Elizabeth Ray, the governor’s director of communications, confirmed the photo’s authenticity and revealed in an email to The Associated Press that the new investment is for an “expansion of the existing space” at the Truckee Reno Center. bottom.
Tesla has invested $6.2 billion in Nevada since 2014, building a 5.4 million square foot (501,676 sq m) “Gigafactory,” said a statement posted on its blog site late Tuesday.
“To continue the growth of Gigafactory Nevada, we will invest more than $3.6 billion, adding 3,000 new team members and two new factories,” the company said, adding “the first high-volume semi-factory.” added that it contains
Tesla delivered its first electrical semiconductors to PepsiCo’s facility in Nevada in December. That was more than three years after Musk said his company would start building trucks.
At the event that unveiled the Tesla Semi in November 2017, Musk said production will begin in 2019 and the trucks will be able to follow each other autonomously in convoys. But on Tesla’s third-quarter earnings conference call in October, he said the company’s “fully self-driving” systems aren’t ready for driverless driving.
Musk says the truck can travel 500 miles (800 kilometers) on a single charge when towing 82,000 pounds (37,000 kilograms).
The Austin, Texas-based electric vehicle and solar panel maker said Wednesday it made $3.69 billion in profit from October to December. According to FactSet, this topped his $1.13 estimate that analysts had lowered. The company’s profit increased he 59% over the same period last year.
Revenue for the quarter was $24.32 billion, below analyst expectations of $24.67 billion.
Musk said demand for Tesla’s products was strong and sales were constrained by production, despite price cuts of up to 20% on some vehicles unveiled earlier this month. .
____
AP Auto Writer Tom Krisher of Detroit and AP Technology Writer Michael Liedtke of San Francisco contributed to this report.
