Tesla Inc TSLA could have its eyes set on Canada as the location for its next Gigafactory. New reports of hiring for recruiters in the country could hint that an announcement could be made soon.
What Happened: Speaking at a shareholder event in August, Tesla CEO Elon Musk shared hints that the next Gigafactory location could be announced by the end of the year. Musk said that Tesla could have 10 to 12 gigafactories around the world to help ramp up production of its electric vehicles.
When speaking on the potential new Gigafactory, the crowd saw fans shout out Canada as a location for the next factory.
“I’m half Canadian. Maybe I should,” Musk said.
A lobby registration by Tesla in Canada also hinted that the company could be exploring a potential factory in the country.
Tesla has posted a job listing for a high-volume recruiter in Quebec, Canada according to a report from Teslarati. The job posting for a recruiter in Montreal, Quebec is similar to wording on past recruiters used in Gigafactory locations, the report notes. High-volume recruiters have been hired in areas like Austin, Texas and Grunheide, Brandenburg, locations near other Tesla Gigafactories.
“A great recruiter stands apart by excelling at talent identification, attraction, and assessment, and by developing deep partnerships with the business and within HR. Tesla is looking for a high volume, and extraordinary recruiter that stands out by doing all of the above combined with strong business acumen, a passion for their craft and a genuine commitment to providing an unforgettable candidate experience,” the job posting says.
A report from Electrek said Tesla has visited several locations in Canada for a potential factory.
No confirmation has been made by Tesla that Canada will be the home of the new Gigafactory. New job listings could suggest the company will make Canada the home of a new Gigafactory or additional Tesla future efforts. Tesla does have existing facilities in Canada thanks to ownership of Hibar Tesla Toronto Automation and financing of lithium battery research in the country.
Why It’s Important: Tesla has expanded its production capabilities outside the United States, with Gigafactory locations in Shanghai and Berlin. The newer international factory locations have helped the company expand production and deliveries in regions like Europe and Asia.
A new Gigafactory location could be important to help Tesla meet its long-term goals of production and deliveries.
Tesla’s third quarter financial results will likely be reported in October, and the company has its annual AI Day coming later this month. It is unclear how and when the company will announce the location of its Gigafactory location.
The recent visits to Canada and official lobbying efforts along with the recent job posting might make Canada the clear favorite.
TSLA Price Action: Tesla shares closed the week at $270.21, dropping 3% on Friday.
Photo courtesy Steve Jurvetson on Flickr and tesla.com
Image and article originally from www.benzinga.com. Read the original article here.