Tesla to build .5 billion truck factory in Nevada, White House says

Tesla to build $3.5 billion truck factory in Nevada, White House says

Tesla (TSLA) is building another production facility – in a state where it already has a foothold.

Last night, Nevada Governor Joe Lombardo said in his state address that Tesla would soon build its new semi-electric truck in the state.

“I look forward to joining Elon Musk and the team at Tesla tomorrow as they unveil plans to build a brand new $3.5 billion state-of-the-art manufacturing facility in northern Nevada for the all-electric semi trucks. of the company,” Lombardo said last night from the Nevada State Capitol in Carson City.

According to the Las Vegas Review Journal, the White House today confirmed those plans and announced that Tesla would build a new facility east of Sparks, Nevada in the Tahoe-Reno Industrial Center.

“This announcement is the latest in more than $300 billion of private sector investment in clean energy and semiconductor manufacturing announced since the president took office,” said Mitch Landrieu, infrastructure coordinator to President Joe Biden. “It will create more than 3,000 high paying jobs in Nevada to help lead America in clean energy production, strengthen our energy security and ultimately lower costs for families.

Few details or other particulars were given about the new production facility. The governor’s office did not provide additional information about an event with Tesla executives and did not immediately respond to Yahoo Finance’s request for more information.

Tesla had previously announced that it would build the Tesla Semi at its Giga Austin plant. Tesla delivered its first Semis last month to customer PepsiCo, which is currently using the Semis at its Modesto, California distribution center, Frito-Lay.

Tesla Semi at Frito-Lay facility in Modesto, CA

Tesla Semi at Frito-Lay facility in Modesto, CA

EV blog Electrek had previously reported that Tesla was going to build a production line for the Semi at the existing Gigafactory Nevada factory near Reno, where Tesla currently produces battery packs and other EV components.

Investors and analysts are likely to learn more about Tesla’s expansion plans during tomorrow’s Q4 earnings release after the company’s bell and investor conference that begins at 5:30 p.m. ET. Tesla has said it will also reveal more information about its expansion plans at this investor day on March 1, possibly tapping into rumors that it will build a new Giga factory in Mexico or even Indonesia, as previously reported.

Programming Note: Dive into Tesla’s Q4 earnings with Yahoo Finance’s Brian Sozzi, Brad Smith and Pras Subramanian. We go immediately after the investor call Wednesday.

Pras Subramanian is a reporter for Yahoo Finance. You can follow him Twitter and further Instagram.

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