Tech

Tesla Texas ‘Gigafactory’ will cost at least $1.06 billion: filing

Elon Musk, Tesla CEO, stands in the Tesla Gigafactory during a press event. year.

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Tesla will spend more than $1 billion on a new vehicle manufacturing plant in Austin, Texas, and aims to complete construction of several key elements of the complex by December 31, according to construction filings with the Department of Transportation. Texas regulation reviewed by CNBC.

Tesla plans to spend at least $1.06 billion on what the company calls a “Gigafactory” that will make the company’s upcoming electric pickup truck, the Cybertruck, as well as Model 3 and Model Y vehicles.

The license indicates that Tesla’s previously announced expansion next to the Colorado River is still on track to begin vehicle production in the near future, and that the company is investing a significant amount of capital in the 2,000-acre facility.

The factory is also an important symbol of the company after announcing plans to move its headquarters from California to Texas in October. Travis County, Texas, the facility was first announced in 2020.

“Gigafactory Texas is progressing as planned,” Tesla said in a statement a shareholder slide in October. “We are in the process of testing the equipment and building our first pre-production cars.”

Tesla’s Texas Gigafactory is under construction.

Tesla

Texas filings, November 19, show Tesla to begin construction in September and November 2020 on facilities for bodywork, stamping, casting, painting, and full vehicle assembly at the plant. covers an area of ​​more than 4.2 million m2. space foot.

Tesla also operates plants in California, Nevada and Shanghai, and is currently in the process of building a plant near Berlin.

Tesla previously said it planned to spend $1.1 billion on the Texas factory during meetings with local officials and received at least $14.7 million worth of tax breaks.

Austin Mayor Steve Adler said in October that Tesla was “a good fit” for the city and region. Tesla plans to use “Thousands“of employees at the factory.

“We’re going to turn it into a factory that’s going to be gorgeous; it’s right on the Colorado River. So we’re really going to have to have a boardwalk past you, hiking, trail going.” Basically it will be an ecological paradise, “Musk say in 2020.

Electrek previous report on profile. Tesla did not respond to a request for comment.

https://www.cnbc.com/2021/11/23/tesla-texas-gigafactory-will-cost-at-least-1point06-billion-filings.html Tesla Texas ‘Gigafactory’ will cost at least $1.06 billion: filing

Sarah Ridley

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