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Elon Musk Plans to Build 6 New Tesla Factories to Produce 20 Million Electric Cars a Year. Brazil Could Be One of the Locations for the Investment, Read More Details Below.
This Thursday (4), Tesla’s CEO, Elon Musk, stated that the electric car manufacturer will likely need approximately 6 new factories to meet its demand of 20 million vehicles per year by the beginning of the next decade. An announcement regarding the location of the new Tesla factory may occur as early as 2022, held at its unit in the Austin, Texas area.
Tesla Generates Profits of US$ 2.3 Billion in Electric Car Sales
Tesla, led by Elon Musk, currently has 4 factories for electric cars. The meeting took place after a recent rise in Tesla’s stock price, which the company reported better-than-expected earnings in the second quarter.
Tesla generated US$ 2.3 billion in electric car sales during the period, exceeding Wall Street expectations, but well below its record quarterly profit of US$ 3.3 billion in the first three months of the year.
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In a post on Twitter, Elon Musk stated that the number of employees will expand with the new Tesla factory in the next 12 months, after a Reuters report indicated that the businessman is pessimistic about the economy and therefore plans to cut 10% of the automaker’s jobs.
According to Musk, the total number of employees at the company will expand during this period; however, the number of salaried workers is expected to remain stable overall. Just before that, news of the job cuts at Tesla impacted Tesla’s stock, which closed down 9.22% on the New York Stock Exchange.
Brazil Could Receive a New Tesla Factory
According to billionaire Elon Musk, with the new Tesla factory, the prices of electric cars could be reduced if there is a decline in inflation in the United States. Elon Musk commented on inflation when responding on social media that the company planned to lower the prices it had raised due to pandemic-related supply chain issues.
Elon Musk mentions that if inflation calms down, there will be the possibility of lowering the prices of electric cars. In the past year, the chip and semiconductor crisis caused many headaches for the company, such that the billionaire could not escape the difficulties.
In a meeting with the Minister of Communications, Fábio Faria, Musk stated that to escape the crisis, there may be no choice but to invest in a new semiconductor factory, and Brazil is one of the countries that could receive the probable new Tesla factory.
Tesla Has Already Produced Over 3 Million Electric Cars
Tesla recently announced that it has produced 3 million electric cars since the beginning of its production over 14 years ago. Furthermore, the automaker also reiterated its production plans in the annual shareholders meeting and aims to reach an annual production rate of 2 million vehicles by the end of this year.
For comparison, just in the last year, Tesla produced over 900,000 electric cars and still plans to achieve a 50% expansion for the next year, generating about 1.5 million electric cars. By 2023, the automaker will have the capacity to produce 2 million cars per year, and this number will increase as the year progresses.
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