• Home
  • Breaking News
  • Privacy Policy
  • Email Whitelisting
No Result
View All Result
Top Trading Strategy
No Result
View All Result
Home Breaking News

Tesla will spend at least $1.06 billion on Texas ‘Gigafactory’ and hopes to finish it this year

by
November 23, 2021
in Breaking News
0
0
SHARES
0
VIEWS
Share on FacebookShare on Twitter

Related Posts

Baidu leaps to 11-month high as it reveals plan to launch ChatGPT-style ‘Ernie Bot’

India will buy oil from ‘wherever we have to’ if terms are beneficial, energy minister says

Tuesday: Trade Deficit, Fed Chair Powell

Dow Jones Drops Ahead Of Key Powell Speech; Pinterest Plunges On Earnings; 4 Other Earnings Reporters

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

Patrick Pleul | picture alliance | picture alliance | Getty Images

Tesla will spend over $1 billion on a new vehicle factory in Austin, Texas, and aims to complete construction of several major elements of the complex by Dec. 31, according to construction filings with the Texas Department of Regulation reviewed by CNBC.

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

The permits show that Tesla’s previously announced expansion next to the Colorado River remains on track to start producing vehicles in the near future and that the company is investing a substantial amount of capital at the 2,000-acre facility.

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

“Gigafactory Texas is progressing as planned,” Tesla said in a shareholder slide deck in October. “We are in the process of commissioning equipment and fabricating our first pre-production vehicles.”

Tesla’s Texas Gigafactory is under construction.

Tesla

The Texas filings, dated Nov. 19, show that Tesla started construction in Sept. and Nov. 2020 on facilities intended for body work, stamping, casting, painting, and full vehicle assembly at the plant, which will have more than 4.2 million square feet of space.

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

Tesla previously said it planned to spend $1.1 billion on the Texas plant in meetings with local officials and received tax breaks worth a minimum of $14.7 million.

Austin Mayor Steve Adler said in October that Tesla “fits right in” to the city and region. Tesla plans to employ “thousands” of employees at the plant.

“We’re going to make it a factory that is going to be stunning; it’s right on the Colorado River. So we’re actually going to have to have a boardwalk over you, hiking, biking trail. It’s going to basically be an ecological paradise,” Musk said in 2020.

Electrek previously reported on the filings. Tesla didn’t return a request for comment.

Next Post

Nike and 9 More Companies That Raised Their Stock Dividends This Week

Leave a Reply Cancel reply

Your email address will not be published. Required fields are marked *

email

Get the daily email about stock.

Please Enter Your Email Address:

By opting in you agree to our Privacy Policy. You also agree to receive emails from us and our affiliates. Remember that you can opt-out any time, we hate spam too!

Popular Posts

Breaking News

Baidu leaps to 11-month high as it reveals plan to launch ChatGPT-style ‘Ernie Bot’

by
February 7, 2023
0

In this article GOOGLMSFT9888-HKBIDU Follow your favorite stocksCREATE FREE ACCOUNT Robin Li (or Li Yanhong in Chinese), founder, chairman and...

Read more

Baidu leaps to 11-month high as it reveals plan to launch ChatGPT-style ‘Ernie Bot’

India will buy oil from ‘wherever we have to’ if terms are beneficial, energy minister says

Tuesday: Trade Deficit, Fed Chair Powell

Dow Jones Drops Ahead Of Key Powell Speech; Pinterest Plunges On Earnings; 4 Other Earnings Reporters

Rescuers scramble in Turkey, Syria after quake kills 4,000

‘Big Short’ hedge funder says he thinks we’re headed for a ‘run-of-the-mill’ recession—but the bigger ‘paradigm shift’ is really on his mind

Load More

All rights reserved by www.toptradingstrategy.net

  • Home
  • Breaking News
  • Privacy Policy
  • Email Whitelisting
No Result
View All Result
  • Home
  • Breaking News
  • Privacy Policy
  • Email Whitelisting

© 2023 JNews - Premium WordPress news & magazine theme by Jegtheme.