Tesla Texas ‘Gigafactory’ will cost at least $ 1.06 billion: submissions

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

Patrick Pleul | picture alliance | picture alliance | Getty pictures

Tesla will spend more than $ 1 billion on a new vehicle plant in Austin, Texas, and aims to complete construction of several key elements of the complex by December 31[ads1], according to construction documents for 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 upcoming electric pickup, Cybertruck, as well as Model 3 and Model Y vehicles.

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

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

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

Tesla’s Texas Gigafactory is under construction.


The Texas submissions, dated November 19, show that Tesla started construction in September and November 2020 on facilities intended for bodywork, stamping, casting, painting and complete vehicle assembly at the factory, which will have more than 4.2 million square kilometers. meters of space.

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

Tesla previously said it planned to spend $ 1.1 billion on the Texas facility 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” with the city and the region. Tesla plans to hire “thousands” of employees at the plant.

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

Electrek has previously reported on the submissions. Tesla did not return a request for comment.

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