News

Latest News

Stocks in Play

Dividend Stocks

Breakout Stocks

Tech Insider

Forex Daily Briefing

US Markets

Stocks To Watch

The Week Ahead

SECTOR NEWS

Commodites

Commodity News

Metals & Mining News

Crude Oil News

Crypto News

M & A News

Newswires

OTC Company News

TSX Company News

Earnings Announcements

Dividend Announcements

Tesla Plans To Build New U.S. Manufacturing Plant

Tesla Inc. (NASDAQ:TSLA) is on the hunt for a new manufacturing location in the United States.

Tesla Chief Executive Officer Elon Musk said that the electric car manufacturer is looking for locations in the central U.S. to build a new factory for the company’s upcoming electric pickup truck.

"Scouting locations for Cybertruck Gigafactory. Will be central USA," Musk tweeted.

Cybertruck, a wedge-shaped pickup, is expected to go into production in late 2021 and start selling for a price of around $40,000. In a separate tweet, Musk said: "Model Y production for east coast too."

In late January this year, Tesla said it had started production of the Model Y, its electric compact sports utility vehicle (SUV), at its factory in Fremont, California, and planned to deliver the first vehicles by the end of March.

Tesla also said in January that it needed to increase its battery capacity to produce models like the Cybertruck. Musk took to Twitter last month to ask users if Tesla should build a new manufacturing plant in Texas.