Tesla hinting on new Giga factory outside China, sells short shorts

Tesla hinting on new Giga factory, sells short shorts

Elon Musk is on the move again as Tesla is planning to put up another factory in Asia, although there is no confirmation yet which country. Tesla also announced that they are selling limited-edition short shorts on their website.

This week the Tesla CEO just dropped a subtle announcement via Twitter that they are planning to expand their production outside China.

He didn’t mention any timelines on when the other Giga factories will be completed.

However, people have speculated that he could make his next factory in either Japan or Korea, per Tech Times. Both of these countries are known to have a robust automobile industry.

Would the timeline for the expansion be as aggressive in China?

Earlier around last quarter, Tesla made a record in building a Gigafactory in Shanghai which only took 168 working days to complete, per a report from Bloomberg.

This expansion in China was due to the electric vehicle sales that Tesla produced reaching 1.2 million in 2018 which is more than half the electric vehicles sold worldwide that year, as per Germany’s nonprofit Centre for Solar Energy and Hydrogen Research Baden-Wurttemberg.

It looks like the investment in China is also paying off as another report suggests that the Giga factory over at Shanghai is keeping Tesla afloat.

Brian Johnson, a Barclays Plc analyst with a sell-equivalent rating on the stock, wrote in a report as per Bloomberg:

“With strong production in China and better-than-expected production in Fremont, we think that Tesla will beat what appears to be a low bar for deliveries.”

Additionally, he also estimated 85,000 vehicle deliveries, possibly placing Tesla up for a quarterly profit that would make the stock qualified for inclusion in the S&P 500 Index.

Furthermore, Johnson believes that the Tesla stock could continue to rise in the coming weeks due to “overvalued fundamentals” and tells the bearish investors to “return to the shelter of their caves.”

Short shorts hype clogged the Tesla site

The Tesla CEO has been known for posting jokes and memes over social media every now and then. This year, he and Grimes just had their newborn son and people made fun of his name too.

Last month, Elon Musk called out Jeff Bezos via Twitter about censoring a book about the COVID-19 pandemic authored by Alex Berenson.

This week, it looks like another unexpected tweet came in this week as Elon Musk also announced their summer limited-edition apparel, in the form of shorts.

Moments after he tweeted, he followed up that they “broke the website”.

As of this writing, it looks like Tesla still has more short shorts to spare and you can get this for US$69.42 [AU$99.58].

With Tesla pushing production on its electric vehicles around the world, only time will tell if Elon Musk would have another breakthrough in the automotive industry aside from his successful SpaceX project.

 Featured image courtesy of Marques Brownlee/YouTube Screenshot

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