TERAFACTORY earn on average around $17,000 a year

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Last updated: February 16, 2019

TERAFACTORY PROJECT: DELIVERABLE #1PORTUGALPortugal Seeks Lithium Ion Factory: Portugal has made official efforts to persuade Tesla to build a gigafactory there. They likely are willing to offer tax breaks and infrastructure assisThe Portuguese government has had contact with Tesla “which began in the first semester of this year and that have developed now, by the end of the year”, an official source from the Ministry of Economy told ECO.” http://econews.pt/2016/11/21/portugal-attempts-to-attract-tesla-factory/Lithium Access: Currently the 6th largest producer of mined lithium, with a reported 200 metric tons in 2017.

 “Most of the country’s lithium comes from the Goncalo aplite-pegmatite field.” https://investingnews.com/daily/resource-investing/energy-investing/lithium-investing/lithium-producing-countries/ Education: Portugal is ranked 38th in the world for education and Spain is ranked 11th in the world for education. Being positioned in Portugal, we would have access to both of these education ecosystems. “Due to better education, the skill composition of Portugal’s labor force is projected to improve more rapidly than in its European peers, giving the country an opportunity to quickly ramp up activities that require a more skilled workforce and generate more value.

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“http://www.imf.org/external/pubs/ft/survey/so/2016/car062716a.htmWages: Engineers earn on average around $17,000 a year in Portugal http://www.payscale.com/research/PT/Job=Mechanical_Engineer/SalaryMinimum wage is approximately $4.

3 per hour in Portugal compared to the US at an average around $8. Average Monthly Disposable Salary: In the US it is $2,892.83 and in Portugal it is $856.93 which means that in Portugal they make roughly 70% less than in the US.https://www.numbeo.com/cost-of-living/compare_countries_result.

jsp?country1=United+States&country2=PortugalWeather: We want as much sun as possible because we will be using solar power to help mitigate costs of the facility. There are areas in Portugal that receive up to 300 days a year of sunlight. http://www.holiday-weather.com/country/portugal/Land: $9.

1M for 500 acres here. So, we are looking at possibly spending $25M+ for 1000 acres http://portugal.businessesforsale.com/portuguese/charming-and-historical-farm-in-pombal-for-sale.

aspxGovernment: The world audit reports that Portugal is ranked as number 23 on the corruption list of over 150 countries and number 19 on the democracy list. This ensures that we will be doing business in a democratic country that has minimal corruption issues. http://www.worldaudit.org/corruption.htmTaxes: The tax rate is fairly comparable with the United States. “A flat CIT rate of 21% applies on the global amount of taxable income realised by companies resident for tax purposes in Portugal mainland or in the Autonomous Region of Madeira (also applicable to Portuguese PEs of foreign entities).”http://taxsummaries.

pwc.com/uk/taxsummaries/wwts.nsf/ID/Portugal-Corporate-Taxes-on-corporate-incomeTransportation: Portugal has a nationalized freight rail company that operates and hauls for many sectors, of which lithium and lithium batteries should be no problem. http://www.bpcc.

pt/railways.htmlPortugal also has 10 seaports with an anchor depth of 20 meters or more.  http://ports.com/browse/europe/portugal/map-view/#/?cf=&df=A,B,C&tf=&view=map&page=falseCurrency: EUR is a bit stronger than the USD but the dollar is gaining strength in recent years.https://www.bloomberg.com/quote/EURUSD:CURPolitical Economy: Political Economy is gaining strength, and is considered very stable.

KENYALithium Access: We will be sourcing lithium from Zimbabwe, the 5th top lithium mining spot in the world. Distance wise, Zimbabwe is about 5000 miles from Kenya, and depending on mode of transportation were looking at 46 hours per trip to the lithium to the factory in Kenya. Education: High literacy rate, 87.6%.

Where there were just five public universities in the country in 2005, today there are 22 with plans for as many as 20 new universities.The latest enrollment figures for 2014 show that there were 443,783 students enrolled at universities across Kenya, more than double the 2012 enrollment number.Wages: The wages for a mechanical engineer in Kenya range from approximately 32,000-158,000 Kenyan shillings, giving us the ability to set wages somewhere between $308 and $1520 per month. It seems like an average sits at about 58,000 shillings, or about $560 per month. https://www.glassdoor.com/Salaries/kenya-mechanical-engineering-salary-SRCH_IL.0,5_IN130_KO6,28.

htm Weather: It has two things going: a great equatorial location and extensive tropical forests. These serve as a great spot for solar energy and can supply large quantities of biomass respectively. Its equatorial location is superb for replicating the solar and wind energy models Tesla currently has in Nevada, and its extensive tropical forests can supply large quantities of biomass.

Land: Because Kenya is rapidly developing, there is congestion and also a hike in prices for land closer to major cities like Nairobi. For sake of costs, and also safety of people, we will be focusing on rural Kenya where land is ridiculously cheap. In the Eldoret South area of Kenya, it is $5,300 for 900 acres of land. http://www.buyrentkenya.com/details/s42462Government: Very welcome to the presence of Western companies to support growth of the emerging economy. “Kenya has a steadily improving environment for foreign direct investment (FDI).

 Foreign investors seeking to establish a presence in Kenya generally receive the same treatment as local investors, and multinational companies make up a large percentage of Kenya’s industrial sector.  There is little discrimination against foreigners in investment, ownership, or access to government-financed research,” https://www.export.gov/article?id=Kenya-openness-to-foreign-investment Political Stability: Kenya has relative political stability, having held democratic elections since 1992 and has seen the transfer of power three times since. In 2010, they adopted a new constitution and ethnic violence is down.https://www.

gov.uk/government/publications/overseas-business-risk-kenya/overseas-business-risk-kenya Taxes: Compared to the continental average of 46.9% and taking 313 hours to prepare, according to PwC, Kenya has tax rates of 37.1% and only takes an average of 202 hours to prepare.

http://www.businessdailyafrica.com/PwC-says-Kenya-firms-pay-less-tax-than-their-African-peers/539552-2981950-4mpomtz/index.html The average tax rate, the number of taxes, and the time it takes a company in Kenya to comply are all higher than the global average.

http://www.businessdailyafrica.com/PwC-ranks-Kenya-among-highest-taxed-countries/539552-2097582-uo5y6az/index.html Transportation: Kenya investing heavily into their ports and railroad infrastructure. Working to build a port capable of 20 million containers per year.

It’s only planned at this time and has a long time horizon. http://www.bbc.com/news/world-africa-36458946Currency: The Kenyan shilling is currently sitting at an exchange rate of 102.04 shillings to every 1 US dollar. According the CIA world factbook, the shilling decreased in value against the US dollar by about 19% from 2013 to 2017.

The table below reflects the estimated trends for exchange rates of the Kenya shilling to the US dollar, which show a decline in value over time for the Kenya shilling.https://www.cia.gov/library/publications/the-world-factbook/geos/ke.

htmlConcern: Kenya is the third largest US currency user in the EAC region, which provides a greater stability in the value of the domestic currency. A sudden switch to foreign currency might cause higher rate of inflation. Benefit: more stable banking system, no conversion rates, https://www.businessdailyafrica.com/markets/marketnews/Kenya-third-largest-domestic-user-of-dollars-in-the-EAC/3815534-4281990-gnupn7z/index.html Kenyan shillings (KES) per US dollar:204.000 (2017 est.)101.504 (2016 est.)101.504 (2015 est.)  98.179 (2014 est.)  87.921 (2013 est.)

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