Tesla’s “Gigafactory” in Texas will cost at least $1.06 billion: filing

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At the press conference, Tesla CEO Elon Musk stood in the foundry of the Tesla Super Factory. year.

Patrick Pooler | Photo Alliance | Photo Alliance | Getty Images

According to the construction documents of the Texas Department of Supervision reviewed by CNBC, Tesla will spend more than $1 billion to build a new car factory in Austin, Texas, and plans to complete several complexes before December 31. The main part of the construction.

Tesla plans to invest at least $1.06 billion in the company’s so-called “super factory”, which will produce the company’s upcoming electric pickup Cybertruck and Model 3 and Model Y cars.

The license shows that Tesla’s previously announced expansion project near the Colorado River is still expected to start producing cars in the near future, and the company is investing a lot of money in the 2,000-acre factory.

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

“The Texas Gigafactory is proceeding as planned,” Tesla said in a shareholder slide in October. “We are debugging the equipment and manufacturing our first trial production vehicle.”

Tesla’s Texas Gigafactory is under construction.

Tesla

The documents submitted by the State of Texas dated November 19 show that Tesla started to build facilities for bodywork, stamping, casting, painting, and vehicle assembly at the plant in September and November 2020. The factory will have more than 4.2 million square feet of space.

Tesla also has factories in California, Nevada and Shanghai, and is currently building factories near Berlin.

Tesla has previously stated that it plans to spend $1.1 billion at the Texas plant during meetings with local officials and will receive at least $14.7 million worth of tax breaks.

Austin Mayor Steve Adler said in October that Tesla is “very suitable” for this city and region. Tesla plans to hire “thousands” of employees in the factory.

“We will build it into an amazing factory; it’s right on the Colorado River. So we actually have to lay a boardwalk, hiking, biking trails above you. It will basically become an ecological paradise,” Musk Said in 2020.

Electrek had previously reported on these documents. Tesla did not respond to a request for comment.


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