Tesla Set To Spend Over $1 Billion On Texas Factory

Tesla expects to complete construction in Austin by the end of this year and will invest more than $1B on the new Austin factory.

The Texas Department of Licensing and Regulation (TDLR) received filings from the electric car manufacturer stating that construction of the bodyshop, general assembly and paint facilities will be completed by December 31, according to filings. The filings also stated that the five facilities would have an estimated combined area of nearly 4.3 million square feet and will cost $1.06 billion.

The following documents were discovered by ElectrekThe budget for the body-inwhite facility is $182 million, while general assembly has $493 million. Budgets of $126m, $109m, $150 million, respectively, are allocated to the painting, casting,, and stamping equipment.

See also: Canadian Mayor Announces Tesla Plant near Toronto

While the Tesla Model Y is the first to be produced in the factory, the facility will produce the Model 3, Cybertruck and Semi once it’s fully operational. Tesla stated that its factory can build up to 500,000 Model Ys each year.

The Texas location was constructed by Tesla in the summer 2020. ReutersAccording to reports, the automaker will receive close to $65 million in tax rebates from local governments for its factory. It will also create 10,000 jobs.

This isn’t the only factory that Tesla is constructing. The world’s most valuable automaker is also building a Gigafactory in Berlin, Germany that will also build the Model Y.


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Author: Brandon Park