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Tesla Details $ 1 Billion Costs for New Texas Plant, Aiming for Year-End Completion

AUSTIN, Nov. 22 (Reuters) – Tesla Inc (TSLA.O) plans to spend more than $ 1 billion on its new vehicle plant in Austin, Texas, and plans to complete construction by the end of this year state agency showed.

Documents filed with the Texas Department of Licensing and Regulation (TDLR) on Friday describe Tesla’s spending on various manufacturing capabilities at its Austin plant. The company has announced plans to complete construction of its general assembly, painting, molding, stamping and bodywork facilities by December 31.

The five facilities are said to have a combined area of ​​nearly 4.3 million (0.4 square kilometers) and cost $ 1.06 billion, according to the documents.

The electrek electric vehicle news site first reported on the documents filed on Monday.

The TDLR regulates and licenses a wide range of businesses, facilities and equipment. Tesla’s deposits were made as part of the agency’s architectural barriers project, which reviews and inspects projects to ensure they comply with Texas accessibility regulations.

The agency did not immediately respond to a request for comment.

Tesla chief executive Elon Musk previously said the company plans to launch limited production of its Model Y midsize SUV this year, and high-volume production next year.

Construction on Tesla’s new plant, located near the airport on the eastern outskirts of Austin and estimated to cost $ 1.1 billion, began in the summer of 2020. The company began construction. is expected to receive nearly $ 65 million in local tax breaks for the plant, which Tesla says will create some 10,000, mostly low-skilled jobs.

Construction groups can be seen working on the huge factory day and night, and the factory building is expected to be at least 0.75 mile (1.21 km) long when completed. Read more

Tesla also announced that it will be moving its headquarters to Austin, Texas from California. Read more

Our Standards: Thomson Reuters Trust Principles.

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