Tesla (NASDAQ:TSLA)
According to a report published in a Spanish journal on Thursday, Tesla (NASDAQ:TSLA) is in discussions with the local administration of Valencia regarding the possibility of constructing a $4.8 billion electric car plant in the area. For its part, the administration of Valencia has said unequivocally that it is in discussions with an undisclosed automobile manufacturer over a possible substantial investment in the province. Tesla has not issued a statement about the latest development. As a result, Tesla’s stock surged.
Tesla is planning a second gigafactory in Monterrey, Mexico. This factory is anticipated to be almost twice as large as the one in Austin, Texas. It is predicted that production will start in the year 2024.
According to sources from Bloomberg earlier this year, rumors indicated that Tesla was close to closing a contract to put its next Gigafactory in Indonesia. The location in Southeast Asia is considered desirable since it is close to the mineral deposits required to produce electric batteries. Importantly, roughly one-quarter of the world’s nickel deposits may be found in Indonesia. The first word was that an Indonesian Gigafactory would have the ability to make one million automobiles per year and that numerous sites could be put up across the country to support production and the supply chain. In addition, the word was that an Indonesian Gigafactory could produce a million vehicles simultaneously.
Tesla is also in discussions with authorities in India, South Korea, and Canada over the possibility of setting up manufacturing facilities there.
In trading in the late afternoon on Thursday, Tesla stock rose by an additional 3.79% as the winning run for the electric car stock extended.
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