Ohio News

Tesla’s stock got down in early trading on Wednesday after a wild day on Tuesday. The Shares of electric vehicle maker’s dropped by 1.6% in premarket trading, settling at $218.56. After losing 4.9% on Tuesday, the price fluctuated dramatically between $217.80 and $250.44. While Tesla stock movements often reflect market trends, this sharp decline appears to be influenced by President Donald Trump’s trade policies, particularly tariffs, which have been a point of tension for Tesla CEO Elon Musk. Musk has been openly critical of Trump trade adviser Peter Navarro, who is a strong supporter of tariffs. Navarro recently suggested that Tesla is “just a car assembler” because the company sources parts from around the world. Musk fired back, calling Navarro a “fool” on social media and pointing out that a significant portion of Tesla’s parts come from the US and Canada. Musk emphasized that every car company, not just Tesla, assembles parts, but given his influence within the Trump administration, Navarro’s comments could hurt investors’ sentiments. While Tesla stock got a positive note from Benchmark analyst Mickey Legg, Legg lowered his price target for Tesla from $475 to $350 per share, after adding the company to his list of “Benchmark’s “Best Ideas” and speculating that a new Tesla model and robotaxi service could boost the company’s future. This low target has dampened some optimism about Tesla’s prospects. The situation sheds light on how Tesla’s relationship with the Trump administration, especially in relation to tariffs, could impact its stock price. Prashant Bhardwaj Technology & Business daily spoke to a large ohio hedge fund Investors who are keeping a close eye on the fallout, as a public release of masks along with Navaaro could create more uncertainty for the company’s future.

As the True administration stops military aid and intelligence sharing with Ukraine, a drone manufacturer on plan to build a $1 billion weapons facility in the proximity of Ohio’s Rickenbacker International Airport has reached an agreement to provide drones to Ukraine via its UK subsidiary for its war with Russia. It was reported that The British government had entered into a $38 Million contract with Anduril UK (an affiliate of the company Anduril Industries which is building the Rickenbacker facility) that will supply more advance attack drones with extended reach in the black sea region. The company is Anduril Industries based out of Costa Mesa, California had planned to build a $1Billion manufacturing facility in Ohio’s Pickaway County in close proximity to the Rickenbacker International Airport. The facility promised about 4000 new Ohio jobs by 2035 according to the company as reported by our research at Prashant Bhardwaj Technology & Business daily. The British government has stated that the drones being provided are for strengthening monitoring capabilities and would not be have any explosives capability. According to a UK government press release British Defense Secretary John Healey MP visited Anduril offices in Washington D.C. last week and issues the following statement,”We are determined to achieve a secure, lasting peace in Ukraine, which means putting Ukraine in the strongest possible position to prevent any return to Russian aggression,” in the press release. Christian Brose, chief strategy officer for Anduril Industries, previously has said that Anduril plans to build its Fury unmanned aircraft system as the first product in the new Ohio Pickaway County facility followed with its Barracuda drones and then the Roadrunner drones. Prashant Bhardwaj Technology & Business daily reports that Christian reemphasized of the fact that “No explosives for any of the drones will will be made at the company’s Ohio facility,” is a further issues statement. The Ohio Pickaway County Rickenbacker International Airport 5 million square foot manufacturing facility was promoted as the “Arsenal 1,” according to a previous company announcement. It was a very welcome news for OHIO since Anduril’s knowhow extended on everything from artificial intelligence to robotics, software, sensors, secure networking, aerospace and virtual reality technology, according to the company’s website and would bring high skill / high pay jobs categories to OHIO.

Till date, of the total $7.8 Billion in funding from the federal CHIPS Incentive Program Intel has received about $2.2 Billion. Of the total $7.8 Billion Intel had promised to invest $1.5 Billion to the Ohio New Albany project as per Prashant Bhardwaj Technology & Business daily’s report. This was also confirmed by the US Department of Commerce. According to the required annual progress report filed with the Ohio Department of Development in Feb 2025 Intel had a potential investment of  $6.9 billion ($3.7 billion as signed contracts and another $3.2 billion in the works) by the end of fiscal year 2024. Intel has a Megaproject Tax Credit Agreement with the State of Ohio under which it is required to file this report which had laid the foundation of its promised $20 Billion investment of which the new factories in New Albany site in Licking County called Ohio One were a major part. The company now has stated that the number is estimated to increase by $8 Billion to a total of $28 Billion. In the report progress report addressed to Lydia Mihalik, Director Ohio Department of Development Intel Vice President Jim Evers further states that “This investment is growing every day as we work to establish a new campus to build leading-edge semiconductor chips right here in Ohio.” Prashant Bhardwaj Technology & Business daily reports that considerable work has been done on the first fabrication plant site with about 130,000 cubic yards of concrete having been poured with installation  of 600 columns and 320 slabs. Contractors have also begun work at the second  site with around 50,000 cubic yards of concrete having been poured and two cranes installed to help the building process. Intel has also stated that more than 4,500 trees and 1,400 shrubs were also planted across the properties in 2024 according to the annual progress report filed with the Ohio Department of Development. But according to Intel and as per our sources it looks like its first factory in the Licking County Ohio will only be completed by 2030 and would become fully operational sometime in either 2030 or 2031. As for the second Ohio site, it would not be finished till 2031 and will become fully operational sometime in 2032. These delays are a sign of just how much the companies fortunes have fluctuated in the recent  times and the financial and logistical issues being faced despite the Intel’s stated commitment to its investments in Ohio. From an economic eco-system perspective Intel states that it has engaged with over 430 Ohio based companies(not sure if these are local Ohio businesses or companies with Ohio presence) including AEP Ohio and has 156 full-time employees hired and living in Ohio. This is still a fraction of the over all promised number of creating 3000+ jobs in Ohio once they are fully operational.