– Tesla’s new $6.6 billion investment in renewable energy will create more than 100,000 new jobs, create more electricity production capacity and boost its stock value by more than 20 percent.
Tesla CEO Elon “Dr. Dr. Tesla” Musk made the announcement in a conference call with analysts.
The company’s new capital investment will allow Tesla to build the largest solar project in the world.
“The world needs renewable energy,” Musk said during the call.
“We’ve got to do more.”
Musk said the investment in clean technologies will result in more than $5 billion of additional annual value for Tesla, which was last valued at $30.7 billion.
Tesla has been a pioneer in the clean energy industry for decades and has invested heavily in the technology in recent years.
“Solar is an amazing example of what you can achieve with solar, but also, of course, the energy storage,” Musk told analysts.
“The solar industry has gone through so much innovation and investment and investment that you don’t necessarily realize what you’re actually getting out of it.”
Musky said the company is working with more than 30 companies to build out its battery storage system.
The Tesla solar project is one of the largest in the country.
The solar project will generate up to 40 megawatts of energy and is located in Fremont, California.
Tesla has been one of Silicon Valley’s most aggressive companies when it comes to solar energy.
In 2016, the company launched its first gigafactory, with over a thousand jobs.
Musk said the Fremont gigafactories would be a massive boost for the company’s efforts to transition away from fossil fuels.
“Our gigafacts have been one that’s really driven a lot of the work we’ve done to transition from fossil fuel generation to a cleaner energy source,” Musk explained.
“But we’ve also been a lot more focused on how we can use solar energy to accelerate the process of powering our cars, as well as powering the homes and businesses of the world.”
The company has invested $1 billion in solar projects in California since 2014.
Tesla is also developing an advanced battery that it hopes will be used to power its Model 3 sedan.
Tesla’s electric vehicle has the highest battery efficiency of any vehicle on the market, according to a recent report by the electric vehicle manufacturer.
Tesla currently has a fleet of approximately 7,500 electric vehicles.
Elon Musk said Tesla has planned to invest more than 10 billion dollars in solar energy by 2023.