Tesla Plans To Build Its Next Gigafactory Near Austin, TX

Screengrab / Tesla Model / YouTube

M S

Travis County voted to give Tesla tax breaks worth a minimum of $14.7 million to build the new plant.

According to CNBC, Tesla will build its newest Gigafactory near Austin, Texas, announced Chief Executive Elon Musk during the company’s earnings call on Wednesday.

The area “takes up about 2,000 acres and will be roughly 15 minutes from downtown Austin, Musk said. He said the factory will be an ‘ecological paradise’ and that it will be open to the public,” CNBC reported. “The site will be used to build the company’s Cybertruck, its Semi and the Model 3 and Model Y for the eastern half of North America.”

“We’re going to make it a factory that is going to be stunning it’s right on the Colorado River. So we’re actually going to have to have a boardwalk over you, hiking, biking trail. It’s going to basically be an ecological paradise,” Musk said.

Travis County, “where the new car plant will reside, voted earlier this month to give Tesla tax breaks worth a minimum of $14.7 million to build the plant to bring jobs to the area. Tesla employs about 10,000 people at its only U.S. car plant today in Fremont, California,” CNBC wrote.

“Texas has the best workforce in the nation and we’ve built an economic environment that allows companies like Tesla to innovate and succeed,” Texas Gov. Greg Abbott said following the announcement. “Tesla’s Gigafactory Texas will keep the Texas economy the strongest in the nation and will create thousands of jobs for hard-working Texans. I look forward to the tremendous benefits that Tesla’s investment will bring to Central Texas and to the entire state.”

Read the report here.

Comments

Economics, Finance and Investing

FEATURED
COMMUNITY