The California Public Utilities Commission agreed to extend the shutdown of the state’s last functioning nuclear power plant through 2030 instead of closing the venue down in 2025.
The current level of spare capacity indicates that the end of a global manufacturing recession “is still some way off,” said GEP’s vice president of consulting, Todd Bremer.
Foxconn plans to spend that amount on top of the $1.6 billion it earlier set aside for the 300-acre site close to Bengaluru’s airport, said people familiar with the matter.
Tesla has faced a backlash in the Nordic region from pension funds and labor unions over the company’s refusal to accept a collective bargaining agreement covering wages and other benefits.
Financing probably will take the form of a convertible bond in the coming weeks with the participation of German chemicals giant BASF SE, said CEO Henk van Alphen.