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Tesla plans to spend greater than $770 million on Texas manufacturing unit growth

An enormous cowboy boot is on show outdoors the Tesla Giga Texas manufacturing facility throughout the “Cyber Rodeo” grand opening occasion on April 7, 2022 in Austin, Texas.

Suzanne Cordeiro | AFP | Getty Photographs

Tesla has registered with the state of Texas to develop its electrical car manufacturing unit in Austin this yr.

January filings with the Texas Division of Licensing and Regulation reveal that Tesla plans to spend upward of $770 million on the development of amenities there, together with for battery cell testing and manufacturing, cathode and drive unit manufacturing, and a die store, amongst different issues.

The Austin Business Journal beforehand reported on Tesla’s plans and filings.

The Elon Musk-led automaker formally opened its Texas electrical car and battery manufacturing unit in April 2022, internet hosting a “cyber rodeo” occasion for shareholders and followers there. Right now, Tesla manufactures a few of its Mannequin Y crossover utility autos in Austin, and plans to mass manufacture its science fiction impressed Cybertruck, an unconventional pickup, there as effectively.

After the corporate initially opened its Austin manufacturing unit, and one other car meeting plant outdoors of Berlin in Germany, CEO Musk known as each amenities “gigantic money furnaces,” in an interview with Tesla Homeowners Silicon Valley.

The fundamental issue facing Tesla is a pull-back in demand, says Bernstein's Toni Sacconaghi

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