Tesla investing $3.6B in Nevada Semi and battery plant

[RV_]

Private investors double down as we did when it was down closer to $100. Here we go again!

Excerpt:

"Elon Musk's antics have given Tesla bulls a prime investment opportunity: Danielle Shay

Tesla announced on Tuesday that it is investing $3.6 billion to expand its Nevada Gigafactory to accommodate mass production of its Semi truck and next-generation batteries.

Two new facilities with over 4 million square feet of manufacturing space will be added to the Reno-area complex.

The automaker said 3,000 new jobs would be created by the project.

The facility, which currently manufactures electric motors, batteries and the Powerwall energy storage system, employs over 7,000 people today.

"Thank you for believing in Nevada, @Tesla!," tweeted Nevada Governor Joe Lombardo, who took office on January 2 and visited the Sparks, Nevada, facility on Tuesday.

Tesla delivered the first of its new Semi trucks to PepsiCo last December, five years after it was first unveiled as a concept. The vehicles were built on a pilot production line that is not yet designed for mass manufacturing.

Exact pricing for the Semi, which qualifies for a $40,000 federal tax credit, has not been announced, and Tesla has not said if any other customers have yet received trucks. Tesla CEO Elon Musk said during the company's third-quarter earnings call that it is aiming to be manufacturing the vehicles at a rate of 50,000 annually by 2024.

The new batteries are designed around a cell Tesla called the 4680, which was designed to have a higher capacity and be cheaper to make than the design it is replacing. They are currently produced in low volumes at other locations and installed in a version of the Tesla Model Y that is assembled in Texas.

The Nevada battery facility will have an annual capacity of 100 GWh of cell output, which Tesla said is enough to support the production of 1.5 million light vehicles."

Much more and a Fox Business video in the link here:

https://www.msn.com/en-us/money/companies/tesla-investing-3-6b-in-nevada-semi-and-battery-plant/ar-AA16Jhpu?OCID=ansmsnnews11

Edited January 25, 2023 by RV_

[RV_]

Tesla rallies as large investors double down ahead of earnings

"Tesla (NASDAQ:TSLA) gained 3.07% in late morning trading on Friday with some of the usual suspects pounding the table on the upside for the stock.

Notable Tesla (TSLA) investor Leo KoGuan disclosed on Twitter that he is still snapping up shares of the electric vehicle stock, despite voicing some concerns in December over the company having "no working CEO."

Leo KoGuan, who is the third-largest known individual shareholder in Tesla, said he has self funded $1B in Tesla (TSLA) buybacks since last year and added another 200K shares on Friday. He said he plans to buy 1M shares on January 27, which will follow the Tesla Q4 earnings report by two days. Tesla has a daily average volume of over 122M shares, so the 1M buy is not likely to be a significant share price mover.

Of course, Cathie Wood and ARK Invest have also been huge buyers of Tesla in January with over 800K shares snapped up through January 19. The EV stock is the third-largest holding in the ARK Innovation ETF (NYSEARCA:ARKK) and the top holding in the ARK Autonomous Technology & Robotics ETF (ARKQ).

Another long-time Tesla (TSLA) bull is Wedbush Securities, which released a survey that looks like a positive read for demand. The firm's survey indicated that 76% of electric vehicle Chinese consumers are considering buying a Tesla this year. That buyer interest mark led all automakers, including local players BYD (OTCPK:BYDDF) and Nio (NIO). Wedbush has an Outperform rating on TSLA and price target of $175."

https://seekingalpha.com/news/3926393-tesla-rallies-as-large-investors-double-down-ahead-of-earnings

In the past Tesla shares drop for about a week after earnings calls considered good and very good as some take their profits. We're still long and glad we got more at fire sale prices.

Edited January 25, 2023 by RV_