10/17/2021

​Tesla to invest additional $350 million in its Nevada Gigafactory

Tesla Motors will invest an additional $350 million into the Gigafactory to make electric motors for its highly-anticipated Model 3 sedan.

The investment will bring electric motor and gearbox component production lines for the Model 3 to the Reno-based facility, Nevada Gov. Brian Sandoval said Tuesday during his State of the State speech, per Fortune. The move will add 550 new jobs at the Gigafactory.

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