The company, long focused on cars and trucks, plans to begin manufacturing large batteries used by utilities, data centers, other businesses and homeowners.
Ford Motor shut down a battery factory and laid off 1,600 workers after President Trump and Republicans gutted government support for electric vehicles.
In a meeting with employees at his company xAI, Mr. Musk revealed a vision for a facility that includes a giant catapult to launch his satellites into space.
“The Model S was a breakthrough and ushered in quite a number of technologies people hadn’t seen before,” said Sam Abuelsamid, an executive at Telemetry, a Detroit communications and research firm.
U.S. trade policy has devastated the Canadian auto industry and pushed the country to reach an agreement that will make it easier for Chinese companies to sell cars there.
The tariffs will allow President Trump to take a cut of Nvidia’s chip sales to China while putting off a decision about imposing higher taxes on the chip industry.
The deal would cut tariffs and include a commitment from Taiwanese Semiconductor Manufacturing Corporation, the island’s chip giant, to build more manufacturing plants in the United States.
A Taiwan Semiconductor Manufacturing Corporation facility under construction in Phoenix. As part of the trade deal, the company would commit to building more semiconductor facilities in Arizona.
Electric vehicles at a Volkswagen plant in Dresden, Germany. The company is an extreme example of how difficult it has been for foreign automakers to cope in the U.S. car market.
Battery assembly at a General Motors facility in Spring Hill, Tenn. Electric cars have become more difficult to sell since the elimination of federal tax credits last year.
Ford Motor said the costs came from its decision to make fewer electric vehicles than it had planned and more hybrids that use both gasoline engines and batteries.
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