Elon Musk and Joe Biden Just SHOCKED Everyone After This HAPPENED!
As predicted, yesterday at the Gigafactory Nevada, Tesla unveiled a significant $3.6 billion investment. The new 4680 battery cell plant, which will be housed under the same roof as the future Tesla Semi manufacturing facility as part of an expanded Gigafactory Nevada complex, will be housed under the same roof as the Tesla Semi manufacturing facility, Elon Musk said during a presentation at the plant while Nevada Governor Joe Lombardo was present. Gigafactory Nevada’s Phase 2 expansion includes the two newly announced plants, as Elon Musk noted. But what exactly did Joe Biden do that shocked tech billionaire Elon Musk?
Hello everyone! Welcome back to Elon Musk Evolution, where we bring you the most recent news about Elon Musk and his multi billion-dollar companies, space news and the latest science and technology.
But, before we begin, make sure you subscribe to our channel and click the bell icon so you don’t miss any of our amazing videos.
When it comes to the Biden administration’s Advanced Manufacturing Production credits, Tesla has stated that it will benefit greatly as it strives to produce 1,000GWh of EV batteries annually.
The credits, which are a crucial component of the Inflation Reduction Act under the Biden administration, are intended to promote the production of specific energy components within the country, such as solar, wind, and qualifying batteries.
The credit is $35 per kilowatt-hour (kWh) for businesses that produce battery cells.
The location of the materials’ sourcing is subject to restrictions, nevertheless. Minerals for batteries, for instance, must come from nations like Australia with which the US has free trade agreements.
During the company’s Q4 earnings call on Thursday (Australia time), Musk was asked how much Tesla anticipates making from the credits in the upcoming year. Musk responded as follows:
“Long term we expect the value of these credits to be very significant. You can do the math, if we were to get anywhere near 1000 gigawatt hours of production or even a few hundred-gigawatt hours it’s very significant.”
Currently, Panasonic manufactures the majority of Tesla’s batteries in the US. Tesla’s in-house battery output will be much higher in 2024 as a result of scaling up manufacture of its own 4680 cells this year.
“In the case of Panasonic with its domestic manufacturing (US) we’re splitting the value of the credit. So, the value of the credits this year will not be gigantic but I think it could be gigantic and we think it probably will be very significant in the future.”
Zach Kirkhorn, the CFO of Tesla, continued, ““We think on the order of $US150 to $250 million per quarter this year, and growing over the course of the year so far as our volumes grow”.
By doing the math, the credits would be worth $US2.1 billion if Tesla produced 60kWh battery packs for 1 million vehicles in the US.
Despite the fact that the Shanghai factory in China presently produces the majority of Tesla’s vehicles, the company plans to build 1.8 million cars this year globally, so it’s possible that the credits will soon be bringing in billions of dollars a year.
The day before the earnings call, Tesla revealed a $US3.5 billion investment into its Nevada factory to expand manufacturing of 4680 batteries and to set up lines for the Tesla Semi vehicle.
Tesla claimed that the expansion will increase the Nevada factory’s annual capacity for producing batteries to 100 gigawatt hours, but that this would eventually increase to 500 gigawatt hours.
#elonmusk #joebiden #tesla #teslanews #spacex #starship
_
Hope you guys enjoy this!
👉 If you enjoy this video, please like it and share it.
👉 Don’t forget to subscribe to this channel for more updates.
Thanks for watching! If you know someone who could use this video, share it with them!
Tags:
Elon Musk, Spacex, Tesla, Spacex starship, Starship, Starship launch, Spacex news, Spacex news today, Tesla news today, Tesla news, Tech, Technology, Elon, Musk, Rocket, Elon Musk interview, New Tech, High tech, Business news, Breaking news, Exposed, Spacex test, Tesla and Spacex, Spacex rocket, Starship Spacex, Spacex today, Space x, Inspirational, Motivational, Speech, Speeches, Worldwide news, Inspire, Goals, Succes, Talks, Leaked, Elon Musk news, Elon Musk today, Elon Musk Motivation
► Copyright Disclaimer Under Section 107 of the Copyright Act 1976, allowance is made for “fair use” for purposes such as criticism, comment, news reporting, teaching, scholarship, and research. Fair use is a use permitted by copyright statute that might otherwise. Moreover, Elon Musk Evolution is an Elon Musk fan channel and all the information on the site is the product of the script writer’s imagination.Viewer’s discretion is advised.
