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(Bloomberg) — Tesla Inc.’s new factory in Austin, Texas, won’t build only the Cybertruck: State filings suggest the company also plans to make batteries on site as part of an ambitious strategy to further integrate its supply chain.
Martin Sukup, an electrical engineer for Tesla Motors Inc., demonstrates the charging procedure on an S sedan before the grand opening of the Tesla Supercharger station in Lebec, California, U.S., on Friday, Oct. 19, 2012. T
“The facility is proposing to operate a cell-manufacturing unit to produce the battery packs that are installed in the vehicle,” says an 188-page air-quality permit application filed with the Texas Commission on Environmental Quality. The documents Bloomberg reviewed were filed between July and September.
Chief Executive Officer Elon Musk announced during the electric-car manufacturer’s quarterly earnings call in July that Tesla had chosen Austin as the site of its next plant. In
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(Bloomberg) — Billionaire Anil Agarwal’s Indian commodities conglomerate Vedanta Ltd. posted a 23.5% drop in quarterly profit as one of the world’s strictest lockdowns hit production and demand.
Police officers walk along an empty road during a lockdown imposed due to the coronavirus in Mumbai, India, on Monday, June 1, 2020. Despite a strict two-month-long lockdown, the outbreak in India’s financial capital has snowballed, with the city now accounting for nearly a quarter of India’s more than 4,700 deaths and more a fifth of India’s over 165,000 infections.
Group net income slumped to 10.33 billion rupees ($141 million) in the three months to June from 13.51 billion rupees a year earlier, the company said in a statement late Saturday. Sales fell 25.9% to 156.87 billion rupees.
Vedanta’s main businesses include zinc, aluminum and oil and gas, all of which have been hit by a