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Tesla invests $3.6bn in Giga Nevada

By Zain Ullah

SANTA MONICA, CA - SEPTEMBER 22: A Tesla vehicle is plugged into a Tesla charging station in a parking lot on September 22, 2022 in Santa Monica, California. Tesla is recalling over 1 million vehicles in the U.S. because the windows can pinch a persons fingers while being rolled up. (Photo by Allison Dinner/Getty Images)
SANTA MONICA, CA - SEPTEMBER 22: A Tesla vehicle is plugged into a Tesla charging station in a parking lot on September 22, 2022 in Santa Monica, California. Tesla is recalling over 1 million vehicles in the U.S. because the windows can pinch a persons fingers while being rolled up. (Photo by Allison Dinner/Getty Images) /
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Tesla has been dominating the automotive industry since the launch of the self driving vehicles. Last week the company announced they had placed more than 40,000 supercharging networks worldwide but Tesla is now going even further with their next billion (s) dollar investment.

Tesla currently has multiple factories scattered through out the United States including New York, Texas and California, where in 2012 the first Model S drifted off the vehicle assembly line. Now Tesla announced they will be investing $3.6bn in an upgraded Giga factory located in Nevada. The invest will include 4M square foot of new design and manufacturing space with 2 brand new car assembly facilities.

The upgraded factory will see an inflation of jobs available, hiring around 3,000 new members of staff. The investment from Tesla will help build a 100 GWh 4680 cell factory which will be enough for almost 2 million small Tesla vehicles per year. The second facility is set to be used for fully electric SUV’s and trucks that have 500 range miles.

TRAVIS COUNTY, TEXAS – JANUARY 03: In an aerial view, the Tesla Corporate Headquarters is seen on January 03, 2023 in Travis County, Texas. Tesla’s quarterly earnings fell short of Wall Street’s expectations and its 2022 delivery target, losing approximately $675 billion in market valuation. CEO Elon Musk suggested that 2022’s economic interest rates hurt vehicle demand. (Photo by Brandon Bell/Getty Images)
TRAVIS COUNTY, TEXAS – JANUARY 03: In an aerial view, the Tesla Corporate Headquarters is seen on January 03, 2023 in Travis County, Texas. Tesla’s quarterly earnings fell short of Wall Street’s expectations and its 2022 delivery target, losing approximately $675 billion in market valuation. CEO Elon Musk suggested that 2022’s economic interest rates hurt vehicle demand. (Photo by Brandon Bell/Getty Images) /

However since 2014, Tesla has already invested around $6.2B in the factory located within Nevada. With investment already in the past, the Nevada motor manufacturing factory has already created 3.6m driving units, more than 7.3bn battery cells and 1.5m vehicle battery packs.

These figures are set to rise once the construction of the upgraded factory is complete and Tesla Nevada is back rolling off cars from the assembly line.

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