The big electric vehicle company based in Austin, Texas, could get bigger after filing to expand with the state. Tesla has plans to invest $775.7 million toward the exansion of Gigafactory Texas, according to government records.
manufacturing, a die shop and more. The announcement of expansion follows CEO Elon Musk’s plan to pull in China chief Tom Zhu to supervise Tesla’s U.S. assembly plants and sales operations in North America and Europe.As COVID restrictions in China mount, Tesla’s key Shanghai hub is facing demand concerns, according to. They also report that the company is operating on a limited production scale in Shanghai through January. So, Tesla is stretching out its reduced output that started in December.
On March 1, Tesla will host its investor day at the Austin facility. According to Reuters, the expansion plans and capital allocation will likely be divulged during that time.
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