ArenaEV.com ArenaEV.com

Facebook

Twitter

Instagram

RSS

Settings
Units
Power
Standard
Consumption
Currency

Log in

Login

I forgot my password
Sign up
ADVERTISEMENTS

Tesla to spend $3.6 billion on factory expansion in Nevada

  • Post your comment

Max McDee, 25 January 2023

Tesla

Tesla announced it is to spend $3.6 billion on expanding its manufacturing site in Reno, Nevada. The company will release its 2023 Q4 results later on today and this announcement can be seen as an appetizer.

Tesla will build not one but two new factories in Reno. One will be dedicated to the production of Semi, Tesla’s heavy-duty electric truck. The other factory will be responsible for production of Tesla’s 4680 battery cells, which the company claims have finally been perfected and production yield is increasing steadily.

The Reno facility is manufacturing the battery packs and electric motors for the current Tesla cars. At the same time, the factory makes Powerwall home batteries. Since 2014 the Reno factory has made 7.3 billion battery cells, 1.5 million battery packs, 3.6 million electric motors and 1 million energy modules - some of them were Powerwall batteries.

Today, we’re announcing $3.6B of new investment in Giga Nevada.

- 4M sq ft of new manufacturing footprint
- 3k additional team members
- 2 new manufacturing facilities: a 100 GWh 4680 cell factory & our first high-volume Semi factory

Details → https://t.co/4CBOIFLwAW pic.twitter.com/rqXzyE7eRK

— Tesla (@Tesla) January 24, 2023

After initially planning to spend $3.5 billion to build the Reno factory, Tesla ended up investing $6.2 billion. 17,000 construction workers were hired and 11,000 ended up working for Tesla. Despite the huge investment, the company - just as all other EV manufacturers - realized this wasn’t nearly enough to meet the growing demand.

Elon Musk took to Twitter (where else?) to announce the $3.6 extra investment and planned recruitment of 3,000 employees once the facility is completed. The battery factory will have a planned capacity of 100GWh of the 4680 battery cells - that's an additional 1.5 million cars right there.

The second factory will be dedicated to scaling up the Semi production but Elon Musk or Tesla did not divulge any more details about its planned production capacity.

It has become a tradition for Elon to announce big plans just before earnings calls. You can’t blame him for trying to lift the mood of investors who are simply getting tired of his escapades. It has become a norm as well that the bigger announcement he makes, the less rosy the earnings results are. Does that mean Tesla missed its Q4 targets? We don’t have to wait too long to find out.

Source

Related articles
  • New Tesla Model Y Performance blends family hauling with supercar speed New Tesla Model Y Performance blends family hauling with supercar speed
  • Tesla's new Model Y Performance will be unveiled tomorrow Tesla's new Model Y Performance will be unveiled tomorrow
  • BYD overtakes Tesla in Europe as electric car sales reach new record BYD overtakes Tesla in Europe as electric car sales reach new record
  • Cybertruck steps outside of North America, South Korea is the first to get it Cybertruck steps outside of North America, South Korea is the first to get it
  • Post your comment
Total reader comments: 0

  • Home
  • Compare
  • News
  • Terms
  • Reviews
  • About us
  • Tesla
  • Volkswagen
  • Audi
  • Porsche
  • BMW
  • Mercedes
  • Hyundai
  • Kia
  • Genesis
  • Renault
  • Nissan
  • Ford
  • Volvo
  • Polestar
  • Jaguar
  • Toyota
  • Mazda
  • Mini
  • MG
  • Vinfast
  • Lucid
  • Rivian
  • Cadillac
  • Chevrolet
  • GMC
  • Subaru
  • Nio
  • Xpeng
  • BYD
  • [..]

EV finder

ADVERTISEMENTS

Latest models

  • ModelTesla
    Model Y Performance
  • ModelMercedes
    CLA Shooting Brake 250+
  • ModelHyundai
    Ioniq 6 N
  • ModelXiaomi
    YU7 Max
  • ModelNissan
    Leaf 75kWh
  • ModelTesla
    Model S Plaid

Featured

  • Xpeng P7 AWD quick review and drive Xpeng P7 AWD quick review and drive
  • Have electric cars gone power crazy? Have electric cars gone power crazy?
  • Different types of electric motors used in EVs Different types of electric motors used in EVs
  • Real-life test reveals how much range EVs lose in the cold Real-life test reveals how much range EVs lose in the cold
  • VW ID.4, Audi Q4 and Skoda Enyaq - three identical yet so different EVs VW ID.4, Audi Q4 and Skoda Enyaq - three identical yet so different EVs
ADVERTISEMENTS

Reviews

  • NIO ET7 quick review and drive NIO ET7 quick review and drive
  • AAWireless Two wireless Android Auto adapter review AAWireless Two wireless Android Auto adapter review
  • Mini Cooper SE JCW review Mini Cooper SE JCW review
  • Lynk & Co 02 review Lynk & Co 02 review

Home News Compare About us RSS feed Facebook Twitter Instagram

© 2022-2025 ArenaEV.com Mobile version EV Finder Glossary Privacy Terms of use

From the team behind
GSMArena.com