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Tesla to build $3.5B Semi truck plant in Nevada, White House says

Tesla (TSLA) is building another production facility — in a state where it has an existing toehold.

Last night in his state of the state address, Nevada Governor Joe Lombardo mentioned that Tesla would soon be building its new Semi electric truck in the state.

“I am looking forward to joining Elon Musk and the team at Tesla tomorrow when they unveil plans to build a brand new $3.5 billion advanced manufacturing facility in northern Nevada for the company’s all-electric semi-trucks,” Lombardo said last night from the Nevada State Capitol in Carson City.

Per the Las Vegas Review Journal, the White House today confirmed those plans, announcing that Tesla would build a new facility east of Sparks, Nevada at the Tahoe-Reno Industrial Center.

"This announcement is the latest in more than $300 billion in private sector investment in clean energy and semiconductor manufacturing announced since the President took office,” said Mitch Landrieu, President Joe Biden’s Infrastructure Coordinator. “It will create more than 3,000 good-paying jobs in Nevada helping America lead in clean energy manufacturing, strengthening our energy security, and ultimately lowering costs for families."

Few details were given or other specifics on the new production facility. The governor’s office did not give out any additional information on an event with Tesla execs, and did not immediately respond to Yahoo Finance’s request for more information.

Tesla had previously stated it was going to build the Tesla Semi at its Giga Austin plant. Tesla just last month delivered its first Semi’s to launch client PepsiCo, which is currently using the Semi’s at its Modesto, California, Frito-Lay distribution facility.

Tesla Semi at Frito-Lay Facility in Modesto, CA
Tesla Semi at Frito-Lay Facility in Modesto, CA

EV blog Electrek had previously reported Tesla was going to build a production line for the Semi at its existing Gigafactory Nevada plant located near Reno, where Tesla currently produces battery packs and other EV components.

Investors and analysts will likely learn more about Tesla’s expansion plans during tomorrow’s Q4 earnings release after the bell and the company’s investor conference call starting at 5:30 p.m. ET. Tesla has said it will also reveal more information on its expansion plans at this investor day on March 1, possibly addressing rumors that it will build a new Giga factory in Mexico or even Indonesia, as has been previously reported.

Programming note: Dive into Tesla's Q4 earnings with Yahoo Finance’s Brian Sozzi, Brad Smith, and Pras Subramanian. We’ll go immediately after the investor call Wednesday.

Pras Subramanian is a reporter for Yahoo Finance. You can follow him on Twitter and on Instagram.

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