Tesla to build $3.5 billion Nevada plant

Tesla CEO Elon Musk answers questions at the company’s Reno, Nevada plant in 2016. Photo: Troy Harvey/Bloomberg via Getty Images

Tesla plans to build a new plant in Nevada to produce the new electric Tesla Semi, officials said.

Lead news: Nevada Gov. Joe Lombardo (right) announced the plans on Monday evening, with the White House confirming the news on Tuesday.

• “I look forward to joining Elon Musk and the Tesla team (Tuesday) as they unveil plans to build a brand new $3.5 billion cutting-edge manufacturing facility in northern Nevada,” Lombardo said, according to a transcript of his State of the Union “. ” the address.

Why is it important: The faster the US can ramp up manufacturing capacity, the faster electric vehicles will become viable options for consumers, businesses, and government buyers.

Details: The new plant “will create more than 3,000 well-paying jobs in Nevada, helping America become a leader in clean energy production, strengthening our energy security and ultimately reducing costs for families,” said Mitch Landrieu, White House senior adviser and coordinator infrastructure. statement.

TeslaIn a blog post Tuesday, it said it would invest $3.6 billion to add two new factories to its existing Nevada Gigafactory complex outside of Reno.

• One is a semi-trailer plant and the other is a battery plant, “with the capacity to produce enough batteries for 2 million light duty vehicles per year.”

Context: Tesla recently began shipping the first Tesla Semi units to customers including PepsiCo.

What’s next: Tesla is expected to report its fourth-quarter earnings on Wednesday afternoon, potentially providing more details about its plans to build the Semi in bulk.

Editor’s Note: This story has been updated with more details.

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