Elon Musk outlined his semiconductor manufacturing ambitions on Saturday evening.
SpaceX and Tesla will build two advanced chip factories at a sprawling facility in Austin, Texas, one to power cars and humanoid robots, and another designed for artificial intelligence data centers in space, CEO Elon Musk said on Sunday.
Elon Musk, who leads both companies, said the facility would supply chips for Tesla vehicles and SpaceX satellites.
Tesla's biggest moneymaker is its Model Y crossover. Rivian's R2 SUV could ultimately unseat Tesla's Model Y dominance.
Tesla further pushes back its expectations for when FSD technology could get approved by Dutch regulators, a milestone that would open the door to broader European opportunities.
Shares of Tesla dropped more than 2% on Friday, extending recent losses as broader U.S. markets weakened amid escalating geopolitical tensions. At the time of writing, the Tesla stock was down over 2% to trade at $372.
Tesla Europe expects a decision by April 10 from the Dutch vehicle authority RDW on whether to approve Full Self-Driving technology in the Netherlands, it said on Friday.
Early on March 20, HSBC ramped up its long-standing hawkishness regarding Tesla (NASDAQ: TSLA) stock as it forecasted a 68% downside for the electric vehicle (EV) maker's equity.
The U.S. auto safety regulator National Highway Traffic Safety Administration said on Friday it had closed a defect petition covering about 2.26 million Tesla vehicles after finding no evidence of a safety-related flaw.
Tesla is planning to scale domestic solar production by sourcing nearly $2.9 billion worth of manufacturing equipment from Chinese suppliers, a Reuters report said on Friday. The initiative aligns with Elon Musk's broader goal of building large-scale solar capacity within the United States.
Investors are waiting to hear what Tesla CEO Elon Musk has planned for semiconductor supply.
Tesla is looking to buy equipment worth $2.9 billion for manufacturing solar panels and cells from Chinese suppliers including Suzhou Maxwell Technologies , two people familiar with the matter said, as CEO Elon Musk aims to add 100 gigawatts of solar capacity in the United States.