Tesla plans to spend more than $770 million on Texas factory expansion

An enormous cowboy boot is on show exterior the Tesla Giga Texas manufacturing facility on the “Cyber ​​Rodeo” grand launch occasion on April 7, 2022, in Austin, Texas.

Suzanne Cordeiro | AFP | Getty Photos

tesla this 12 months it registered with the state of Texas to broaden its electrical car manufacturing unit in Austin.

Purposes filed with the Texas Division of Licensing and Registration in January reveal that Tesla plans to spend greater than $770 million on constructing amenities there, together with the battery. cell test and producing, cathode and drive unit manufacturing and a mould workshop, amongst different issues.

This Austin Business Journal beforehand reported on Tesla’s plans and filings.

The automaker, led by Elon Musk, formally opened its Texas electrical car and battery manufacturing unit in April 2022 and hosted a “cyber rodeo” occasion there for shareholders and followers. At the moment, Tesla manufactures a few of its Mannequin Y crossover utility automobiles in Austin, and plans to place the Cybertruck, a rare science fiction-inspired pickup truck, into mass manufacturing there.

After the corporate first opened its Austin plant and one other car meeting plant exterior of Berlin in Germany, CEO Elon Musk known as each crops “huge money ovens,” Tesla House owners stated in an interview with Silicon Valley.

Bernstein's Toni Sacconaghi says the main problem Tesla faces is demand pullback

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