Tesla is planning a major expansion of its Gigafactory 1 in Nevada. The automaker announced it will invest $3.6 billion to build two new factories and hire an additional 3,000 workers. This investment surpasses the company’s initial $3.5 billion investment in constructing the facility back in 2014. One of the new factories in Nevada will produce 4680-type batteries, while the other will be Tesla’s first plant dedicated to the mass production of electric Semi trucks.
Tesla currently produces Semi trucks in limited quantities, but has long planned to begin mass production in Nevada. The company’s Semi truck consumes less than 2 kWh of energy per mile and can travel 300 to 500 miles on a single charge. Tesla claims that fuel savings for owners could reach up to $200,000 within the first three years.
While the new Semi plant will finally enable Tesla to mass-produce its electric trucks, the 4680 battery factory will help the company achieve its goals of cutting battery costs in half and ramping up production to support its target of selling 20 million electric vehicles by 2030.