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

Elon Musk, Tesla CEO, stands in the foundry of the Tesla Gigafactory throughout a push party. calendar year.

Patrick Pleul | photograph alliance | photograph alliance | Getty Pictures

Tesla will invest over $1 billion on a new motor vehicle factory in Austin, Texas, and aims to entire design of various important things of the sophisticated by Dec. 31, in accordance to building filings with the Texas Department of Regulation reviewed by CNBC.

Tesla strategies to commit at the very least $1.06 billion on what the organization calls a “Gigafactory” that will produce the firm’s forthcoming electrical pickup truck, Cybertruck, as properly as Model 3 and Design Y autos.

The permits show that Tesla’s beforehand declared expansion next to the Colorado River remains on monitor to commence creating vehicles in the close to upcoming and that the business is investing a significant total of funds at the 2,000-acre facility.

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

“Gigafactory Texas is progressing as planned,” Tesla reported in a shareholder slide deck in October. “We are in the system of commissioning tools and fabricating our initially pre-creation cars.”

Tesla’s Texas Gigafactory is below design.


The Texas filings, dated Nov. 19, clearly show that Tesla commenced design in Sept. and Nov. 2020 on services supposed for entire body perform, stamping, casting, painting, and entire car assembly at the plant, which will have more than 4.2 million sq. ft of space.

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

Tesla formerly mentioned it planned to expend $1.1 billion on the Texas plant in conferences with local officials and obtained tax breaks worth a bare minimum of $14.7 million.

Austin Mayor Steve Adler reported in October that Tesla “fits proper in” to the city and location. Tesla strategies to hire “hundreds” of personnel at the plant.

“We’re likely to make it a factory that is likely to be breathtaking it can be proper on the Colorado River. So we are in fact likely to have to have a boardwalk around you, hiking, biking trail. It can be likely to in essence be an ecological paradise,” Musk mentioned in 2020.

Electrek formerly noted on the filings. Tesla did not return a request for remark.