Elon Musk, the CEO of Tesla, has stated that the electric vehicle business intends to invest more than $10 billion in Gigafactory Texas, which would eventually employ 20,000 people.
Tesla aims to invest up to $10 billion in the factory over time, he claimed in a Twitter post.
“Over time, Giga Texas will be a $10 billion+ investment, generating at least 20 thousand direct and 100 thousand indirect jobs,” Musk said.
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Tesla is scheduled to begin Model Y manufacturing at Gigafactory Texas in Austin any day now, according to the auto-tech website Electrek. Tesla’s expansion plans in the United States rely heavily on the new factory.
Tesla currently sells every car it can build in the United States, with delivery times of up to a year for some of its most popular models.
All Tesla vehicles sold in the United States are produced at the company’s Fremont factory in California, which has a capacity of 500,000 electric vehicles per year.
When fully operational, Gigafactory Texas is predicted to more than treble this output, although that will be a few years away, according to the article.
The Model Y, Tesla’s most popular vehicle, will be the first vehicle produced at the new factory. Tesla has stated that production will begin by the end of the year.
Tesla had previously mentioned 10,000 employees, but now Musk suggests that Tesla will directly employ as many as 20,000 people. Worldwide, Tesla now has over 100,000 employees.
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Current Tesla factories. Tesla currently operates out of four full-operational facilities. Three are in the United States, and one is in China.
With these three Gigafactories, Tesla would already have more electric vehicle production capacity than any other automaker, but it is not stopping there.
Once complete, Tesla expects the Gigafactory to be the biggest building in the world – and entirely powered by renewable energy sources. Designed to be a net zero energy factory upon completion, the facility will be primarily powered by solar, and installation is already underway.
The gigafactory phrase was coined in 2013 by Tesla boss Elon Musk, when describing the battery production facility his firm was building in Nevada. That site was really, really big, and during its planning Musk said that rising demand for EVs would require more similar-sized ‘giga factories’ in the future.