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

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Elon Musk, Tesla CEO, stands in the foundry of the Tesla Gigafactory during a press event. year.

Patrick Pleul | picture alliance | picture alliance | Getty Images

Tesla will spend over $1 billion on a new vehicle factory in Austin, Texas, and aims to complete construction of several major elements of the complex by Dec. 31, according to construction filings with the Texas Department of Regulation reviewed by CNBC.

Tesla plans to spend at least $1.06 billion on what the company calls a “Gigafactory” that will produce the company’s forthcoming electric pickup truck, Cybertruck, as well as Model 3 and Model Y vehicles.

The permits show that Tesla’s previously announced expansion next to the…



Source cnbc.com

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