Electric carmaker Tesla has announced an additional $3.6 billion investment into Gigafactory Nevada. With the investment, it is looking to add 3,000 new employees, two new factories that include a 100 GWh 4680 cell factory and Semi factory.
Today, we’re announcing $3.6B of new investment in Giga Nevada.
– 4M sq ft of new manufacturing footprint
– 3k additional team members
– 2 new manufacturing facilities: a 100 GWh 4680 cell factory & our first high-volume Semi factoryDetails → https://t.co/4CBOIFLwAW pic.twitter.com/rqXzyE7eRK
— Tesla (@Tesla) January 24, 2023
In December 2022, Tesla announced a new round of layoffs and said it was pausing hiring for the first quarter of 2023. Its moves were in line with what was happening in the tech industry at large, as well as its dwindling shares price and market capitalisation.
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Although the company had not revealed how many people it laid off last year, a Fortune article says that at lease 200 employees working on the Autopilot program were laid off. Meanwhile in June, it fired about 3.5% (or 3,400) of its employees according to a CNBC report.
Likely, its recruitment will include more of factory workers as its announcement mentions 4M square feet of manufacturing footprint.
Tesla has invested $6.2 billion in the Nevada Giggafactory since 2014 and has produced 7.3 billion battery cells, 1.5 million battery packs, 3.6 million drive units, and 1 million energy modules from there. It currently employs 11,000 people.
Since December, Tesla shares price has been climbing and appreciated by over 31% in the past one month. However, it is still suffering from a 53% deficiency in the past 12 months.
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