Tesla to spend $770 million increasing Texas Gigafactory

Electric car producer Tesla has notified the state of Texas of its plans to spend upward of $770 million increasing its already immense Austin-based manufacturing unit.

Some of those tasks are as a result of begin development inside a matter of weeks.

The aptly named “Gigafactory Texas” opened in April 2022 and has over 10 million sq. toes of ground house (round 100 soccer fields), making it the second-largest constructing by quantity on the earth. The facility is Tesla’s fourth manufacturing unit within the US and is at the moment used to fabricate some Tesla Model Y automobiles, with plans to supply the corporate’s long-delayed Cybertruck someday in 2023.

Tesla might be livestreaming its investor day on March 1st, 2023, from the Texas Gigafactory. Hopefully, we’ll get extra details about the growth then between Musk’s makes an attempt to placate traders.