Tesla said it intends to invest US$3.6 billion to expand manufacturing capabilities in Nevada and is confident growing software-related profits, reflected in record net income reported Wednesday for the fourth quarter of last year, will keep margins higher than any other automaker.
The company confirmed it plans to produce high volumes of semi-trucks and make enough cell batteries for 2 million light-duty vehicles annually in Nevada.
The White House issued a statement trumpeting the plans on Tuesday as Musk wrapped up three hours of testimony defending himself in a class-action lawsuit in a San Francisco federal court over his operation of Twitter, one of three major corporations he owns including Tesla and SpaceX. Lombardo tweeted a photo late Tuesday of himself with Musk at Tesla's "Gigafactory" in the industrial park east of Reno-Sparks, where it makes batteries for electric vehicles.Elizabeth Ray, the governor's communications director, confirmed the photo's authenticity and clarified in an email to The Associated Press the new investment was for an "expansion of the existing space" at the Truckee-Reno centre.
Tesla delivered its first electric semis to a PepsiCo facility in Nevada in December, more than three years after Musk said his company would start making the trucks.
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