Tesla Inc. (TSLA.O), an electric car manufacturer, received approval from Nevada on Thursday for a tax break worth more than $330 million.
Tesla is planning to spend more than $3.6 billion in Nevada to build two new facilities as part of the Gigafactory complex expansion.
According to a statement made by Tesla in January, the larger of the two new plants would build in vast quantities its most awaited semi-electric vehicle, while the other will create its brand-new 4680 battery cell.
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According to Musk, demand was sparked by Tesla’s price decreases, and sales in 2023 may reach 2 million vehicles.
Tesla sales “will be high despite probably a decline in the automobile business as a whole,” Musk said, despite his prediction of a “quite major recession this year.”
Austin, Texas
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