Tesla Has Another Giga Factory Announcement Coming This Year: Elon Musk Says THIS Location Is Interesting
Tesla's Next Giga Factory
Elon Musk has made a profound statement about building Tesla's next giga factory. Tesla recently made an announcement that Mexico would be the next location outside the U.S. Elon Musk has said that Tesla will pick another location by the end of the year.
He was asked if India would be an interesting location to build a giga factory. Elon Musk responded with, "Absolutely."
India is indeed a very interesting location for a giga factory and I can see Tesla producing a sub-compact vehicle here or what I like to call, a "Model 1". This vehicle will be half the cost of the upcoming compact car.
This means that Tesla could announce a giga factory in India this year, but that factory won't likely be building cars. I think that factory would be building Megapacks. Eventually, once Tesla irons out everything with the compact car, it will be ready for the next smaller and cheaper version, the sub-compact.
In order for Tesla to be competitive with EVs in India, they are going to have to build a sub-Compact Model that sells for less than $20,000. The reason for this is that most cars in India sell for less than this.
Of course, Tesla may decide, instead, to build the Robotaxi vehicle in India without a steering wheel, pedals, and to simply make a very simple vehicle that drives itself - I can see that happening a few years down the road once autonomy has been solved. Autonomy is when a car can drive itself safely without human intervention anywhere.
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How Many More Giga Factories To Go?
Tesla needs to build more giga factories. Right now, we have these locations:
* Giga Nevada
* Fremont, California
* Giga Texas
* Giga Berlin
* Giga Shanghai
* Giga Mexico (Coming Soon)
I see at least 4 more giga factories being announced in the future, and Tesla will need to announce all of these by around 2026 in order to have any chance of reaching 20 million vehicles per year in 2030. That is Tesla's goal for the future. They can reach this goal if they produce the compact and a sub-compact variant.
Cost is the limiting factor. Imagine a Tesla - albeit a smaller Tesla, much like a Mini Cooper size, that has all the cameras and safety of a normal Tesla and can run its FSD software and make money for someone while they sleep. All this for under $20,000 base price and $199 for FSD per month.
This vehicle would sell like hot cakes and be in enormous demand all over the world. Even if this vehicle were a 2-seater like an Aptera, there would be enormous demand for it due to the fact it can drive itself.
This vehicle would also be very efficient because it would be smaller and lighter. Battery technology will most likely advance forward in the next few years, offering solutions at a lighter weight for the sub-compact car.
Tesla will announce a giga factory in India - but for Energy first. Then for cars. South Korea is also another good location.
I'm looking forward to hearing the announcement of Tesla's next giga factory. Where do you think the next one will be?
Elon Musk on which is the most exciting country to build a @Tesla factory now: "We'll probably pick another location towards the end of this year."
On asked if India is interesting, Elon responded: "Absolutely" pic.twitter.com/OwINE5laSv
— Sawyer Merritt (@SawyerMerritt) May 23, 2023
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Jeremy Johnson is a Tesla investor and supporter. He first invested in Tesla in 2017 after years of following Elon Musk and admiring his work ethic and intelligence. Since then, he's become a Tesla bull, covering anything about Tesla he can find, while also dabbling in other electric vehicle companies. Jeremy covers Tesla developments at Torque News. You can follow him on Twitter or LinkedIn to stay in touch and follow his Tesla news coverage on Torque News.