Tesla plans to spend more than $770 million on Texas factory expansion
Publishing timestamp: 2023-01-11 01:37:07
Summary
Tesla has registered with the state of Texas to expand its electric vehicle factory in Austin this year. The company plans to spend upwards of $770 million on construction of facilities, including for battery cell testing and manufacturing. Tesla officially opened its Texas electric vehicle and battery factory in April 2022 and manufactures some of its Model Y crossover utility vehicles there. CEO Elon Musk has called both the Austin and Berlin factories "gigantic money furnaces."
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Keywords: elon musk, business news, autos, technology, transportation, texas, tesla inc,