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Tesla Texas Gigafactory will cost at least $ 1.06 billion: docs

Elon Musk, CEO of Tesla, stands at the Tesla Gigafactory during a press conference. year.

Patrick Plehl | painting alliance | painting alliance | Getty Images

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

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

The permits show that Tesla’s previously announced expansion near the Colorado River remains on track to begin car production in the near future, and that the company is investing significant capital in the 2,000-acre facility.

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

“Gigafactory Texas is developing as planned,” Tesla said. October shareholder slide deck… “We are in the process of commissioning equipment and building our first prototype vehicles.”

Tesla’s Texas Gigafactory is under construction.

Tesla

Documents from Texas on November 19 show that Tesla began construction in September and November 2020 of facilities for bodywork, stamping, die-casting, painting and complete vehicle assembly at a factory that will span more than 4.2 million square meters. feet of space.

Tesla also operates factories in California, Nevada and Shanghai, and is currently building a plant near Berlin.

Tesla previously said it plans to spend $ 1.1 billion on the Texas plant in meetings with local authorities and has received at least $ 14.7 million in tax breaks.

Austin Mayor Steve Adler said in October that Tesla “fits” into the city and region. Tesla plans to hire “thousands” of employees for the plant.

“We’re going to make a plant out of it that will be stunning; it is right on the Colorado River. So we really have to build a boardwalk above you, a walking trail, a bicycle trail. It will be basically an ecological paradise, “Musk said in 2020.

Electrek previously reported according to the documents. Tesla did not respond to a request for comment.


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