Tesla Inc. plans to invest an additional $3.6 billion in its Giga Nevada factory, also known as Gigafactory 1, to construct two new factories on the premises.
Hiring and Production
The factory, which currently mass produces battery packs and energy storage products, will now also be used for the mass production of the Semi Electric Truck and the 4680 battery cells, which will be used to supply more than 1.5 billion light-duty vehicles annually.
The Nevada complex already employs around 7,000 people, but Tesla plans to hire an additional 3,000 to run the two new factories. The company’s Semi Electric Truck concept prototype was announced in 2017 and actual manufacturing began in 2018. However, production has been delayed due to a lack of battery production capabilities. Tesla plans to produce around 50,000 Semis in 2024.
Impact on the Industry
The Tesla Semi Electric Truck is a fully electric 18-wheeler truck that can carry 81,000 pounds of cargo and has a range of up to 500 miles. It has semi-autonomous capabilities and active safety controls, and is estimated to save up to $200,000 in fuel costs in just three years. Many companies, such as Walmart, UPS, and Anheuser-Busch, have already reserved their Tesla Semis. The company also aims to reduce battery costs by half and sell 20 million EVs by 2030.
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Giga Nevada, also known as Gigafactory 1, is an electric vehicle and lithium-ion battery manufacturing plant owned and operated by Tesla Inc.
Tesla is planning to invest an additional $3.6 billion in Giga Nevada.
The two new factories at Giga Nevada will be used for the mass production of the Semi Electric Truck and the 4680 battery cells, which will be used to supply more than 1.5 billion light-duty vehicles annually.
Tesla first announced its Semi Electric Truck concept prototype in 2017.
Tesla plans to produce around 50,000 Semi Electric Trucks in 2024.