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The National Highway Traffic Safety Administration (NHTSA) announced that Polestar Automotive USA is recalling 27,816 vehicles in the United States because the rearview camera image cannot be displayed, which reduces the drivers field of view behind the vehicle and increases the risk of a collision.On September 20th, with bank deposit rates generally entering the "1% era," large-denomination certificates of deposit (CDs) with annual interest rates exceeding 2% (the same below) are becoming a scarce commodity in the market. A survey found that while most banks CD rates have fallen below 2%, some private banks still offer CDs with interest rates above 2%, though restrictions apply regarding credit limits and customer location. Overall, large-denomination CDs are currently in short supply and have high subscription requirements, making them highly sought after in the secondary market.Ukrainian President Zelensky: Russian attack killed three people and injured dozens.Ukrainian President Zelensky: Russia launched an attack of about 580 drones and 40 missiles in a nighttime attack on Ukraine.On September 20th, Societe Generale stated that the key Eurozone data release next week will be the preliminary September manufacturing PMI, released on Tuesday. We believe this data is likely to weaken slightly, as the improvement in manufacturing confidence may have ended. Consumer confidence may also weaken slightly in September. August M3 money supply data is likely to show a slowdown in growth to 3.1%, with credit growth reaccelerating. The European Central Bank is also scheduled to release its September economic bulletin. On Friday, the ECB will pay particular attention to August consumer inflation expectations, as this data recently showed an unexpected rise.

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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