Tesla Invests 4.4 Trillion KRW to Expand Nevada Factory... Mass Production of Batteries and Trucks

[Image source=Yonhap News]

[Asia Economy Reporter Suyeon Woo] Tesla has decided to expand its factory in Nevada, USA, investing $3.6 billion (approximately 4.4 trillion KRW). They will build a battery cell factory and produce the delayed electric truck.

Local major media reported on the 24th (local time) that Tesla will build two new factories in Nevada, including an electric truck factory. The first factory will produce the electric truck 'Semi,' while the other factory will manufacture battery cells to supply 2 million compact cars annually.

The combined annual employment for the two factories is expected to reach about 3,000 people. The existing Nevada factory complex has been producing lithium-ion batteries, automotive parts, and energy storage systems (ESS).

The electric truck 'Semi,' unveiled in 2017, was originally planned for mass production in 2019, but actual mass production and delivery occurred last year. It has been five years since Tesla announced the development of the electric truck.

In November last year, Robin Denholm, Tesla's board chair, revealed that the Semi electric truck production capacity was about 100 units annually, but no specific figures were disclosed in the Q4 production report. Elon Musk, Tesla's CEO, has stated that the goal is to produce 50,000 units in 2024.

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