00:00 It's Benzinga and here's what's on the block.
00:03 Tesla has hired a new manufacturing executive, Michael Hildbrand, from Eli Lilly to lead
00:07 the expansion of its Gigafactory Nevada.
00:10 The Gigafactory was intended to produce 105 gigawatts of battery cells and 150 gigawatts
00:15 of battery packs per year, but is currently only about 30% complete due to a focus on
00:20 optimizing existing production capacity.
00:24 Tesla's planned expansion, which includes production of Tesla semi-trucks and 5,000
00:27 battery cells, has been delayed for eight months since the announcement.
00:32 Hildbrand's experience in the pharmaceutical industry, particularly in overseeing large
00:36 manufacturing projects, suggests that Tesla is aiming to accelerate progress on the Gigafactory
00:40 Nevada expansion, which is crucial for its semi- and 5,000-cell programs.
00:45 For all things money, visit Benzinga.com.
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