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April 12 (Reuters) - Iran expects to restore most of its damaged refining and distribution facilities to 70-80% of their pre-attack capacity within the next one to two months, according to the Iranian Students News Agency. Authorities are currently working to recover from a wave of attacks on energy infrastructure. The Iranian Deputy Oil Minister stated that repairs have begun, and some facilities at the Ravan refinery are expected to resume operation within about 10 days, with other units gradually resuming production.According to Japans Kyodo News, Isuzu Motors will postpone the launch of its fuel cell truck, which it developed in collaboration with Honda and was originally scheduled to be released in 2027.On April 12, the Russian Ministry of Defense announced that, according to President Putins order, all Russian troops in the special military operations zone were to strictly adhere to the ceasefire agreement starting at 16:00 Moscow time on April 11. However, from 16:00 on April 11 to 8:00 on April 12, Russia recorded 1,971 ceasefire violations by Ukrainian armed forces. The announcement also stated that prior to the ceasefire agreement taking effect, Russian forces conducted strikes on temporary deployment sites of Ukrainian armed forces and foreign mercenaries in 38 areas. Ukraine has not yet responded to these claims.On April 12th, Bank of America released a research report on Friday, indicating that in the US, it lowered its growth forecast for this year by 50 basis points to 2.3%, with the direct impact of the war accounting for about three-quarters of the revision. The overall inflation forecast was revised upwards by 70 basis points, with core PCE now expected to reach 3.1% by the end of 2026, 30 basis points higher than previously projected. In the Eurozone, the bank lowered its growth forecast by 60 basis points and raised its inflation forecast by 160 basis points to 3.3%, with core inflation at 2.3%.According to Interfax news agency, Russia claims that Ukraine violated the Easter ceasefire agreement.

Tesla Requests $776 Million to Extend Its Gigafactory in Texas

Aria Thomas

Jan 11, 2023 10:47

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According to official papers, Tesla has submitted an application to expand its Texas gigafactory with a total expenditure of $775,7 million, marking one of its largest expansion initiatives since creating the $5.5 billion Germany gigafactory last year.


Monday and Tuesday papers on the website of the Texas state department of licensing indicate that the company plans to install five new facilities at its Austin location, including a cell test lab and a "Cathode" unit.


Reuters did not immediately receive a response to a request for comment from Tesla (NASDAQ:TSLA).


Tesla appointed its China CEO Tom Zhu to supervise the automaker's U.S. assembly plants and sales operations in North America, Europe, and South America, Reuters reported days before the Austin expansion.


Due to COVID and escalating demand worries, the most valuable automaker in the world has experienced production and logistics challenges at its Shanghai center.


During the fourth quarter, Tesla deliveries fell short of market estimates. Reuters reports that the corporation will continue a limited production schedule at its Shanghai facility through January, prolonging the lower output that began in December.


The company is anticipated to have its investor day on March 1 in Austin, where it will likely discuss its expansion and capital allocation strategies.


In addition, Tesla has a manufacturing facility in Fremont, California and a gigafactory in Nevada.


Reforma stated in December that Tesla could soon announce the construction of a gigafactory in the Mexican state of Nuevo Leon, with an initial investment of between $800 million and $1 billion.


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