Tesla (TSLA) investors closed off the week with the stock gaining +30.98% the last 5 days, which means it sits at +64.57% YTD.
Here's this week's news for Tesla, let's go through it together.
LEGEND: Positive News | Neutral News | Negative News
The Gigafactory news doesn't seem to be slowing down in recent weeks! This time we have reports that a new factory is set to be announced - Giga Nevada.
This new factory would be a $3.6B investment for Tesla, with the primary purpose being to build the new Semi Trucks. There will also be a 100GWh 4680 cell factory at this location (as more Tesla's continue to be sold with 4680).
Giga Nevada will be located in Northern Nevada and bring new jobs with its opening.
This move shows Tesla's continued laser focus on building out the infrastructure, which continues to separate them from their competition (both new and old manufacturers).
Tesla released their Q4 2022 earnings and results came in strong.
Here's the summary:
Considering the macro environment (and the fact that Tesla caters generally to a more "luxury" audience), these are impressive numbers.
2023 looks like another strong year of growth as they ramp up production even further to 1.8M units.
A research report by M Science revealed that the Model Y was seeing strong demand in the US.
This isn't new IMO - we know the Y is the best selling vehicle from Tesla already. But the report reveals demand has remained strong despite price cuts and headlines saying otherwise.
We got more clarity on the demand front from Tesla's ER call confirming this as well.
Musk met with top White House officials last week to discuss EV's.
The goal was to figure out a solution for Tesla and the current administration to work together to grow EV adoption. Spending for EV infrastructure has been a sticking point, as this is far behind where it should be (when looking outside Tesla's supercharging network) but Musk is trying to stress the importance of focusing resources to build this out.
Musk has hinted in the past that the supercharging network may open to 3rd party manufacturers as well, and perhaps this was also a topic of discussion at the meeting.
We look forward to spending a few minutes with you next Sunday for some new Tesla news!
Disclosure: I am a Tesla (TSLA) shareholder at the time of publishing.