New filings show Tesla is planning an investment of roughly $717 million to add about 1.4 million square feet of space at the auto factory.
According to filings dated this week with the Texas Department of Licensing and Registration, Tesla is planning an investment of roughly $717 million to add about 1.4 million square feet of space at the auto factory, for a total of about 5.6 million square feet.
The... Tesla Inc. has applied for a nearly billion-dollar expansion of its Austin, Texas, gigafactory. According to filings dated this week with the Texas Department of Licensing and Registration, Tesla is planning an investment of roughly $717 million to add about 1.4 million square feet of space at the auto factory, for a total of about 5.6 million square feet.
The addition includes five new facilities, including a lab for battery-cell testing, a die shop and manufacturing space. Plans indicate construction could begin as soon as later this month and be completed by February 2024.Tesla opened the Austin facility last April. A little more than a month later, CEO Elon Musk said the new gigafactories in Austin and Berlin, Germany, were “gigantic money furnaces” that were losing billions of dollars as supply-chain snags slowed production.
Tesla shares TSLA have sunk 67% over the past 12 months, compared to the S&P 500’s SPX 17% decline over that time.
Australia Latest News, Australia Headlines
Similar News:You can also read news stories similar to this one that we have collected from other news sources.
Austin police looking for hit-and-run driver who killed a pedestrianAustin police are looking for the driver in a deadly hit-and-run in North Austin.
Read more »
East Austin church targeted in New Year’s Day burglaryOn the morning of Jan. 1, three locations on Hope Lutheran Church’s property were burglarized.
Read more »
“Forget ‘New Year, New Me.’ Here’s to ‘New Year, Real Me.’”“This year, I don’t want to be a ‘new’ me. I want to be the old me. The authentic me. I want to shed the mask and start living fully as myself.”
Read more »
Austin is giving away free winter prep kits this weekAustin Water and Austin Energy have hundreds of kits that residents can pick up at customer service centers in North, East and South Austin.
Read more »
Tesla Has A New Second-In-Command — What Should We Expect?This article describes how Tesla's CEO Elon Musk will have a new second-in-command, Tom Zhu, who is responsible for Tesla Shanghai's success.
Read more »