Tesla To Invest Over $10 billion in Gigafactory Texas

By Roxana Ion

Posted on December 18, 2021

Tesla is about to start Model Y production – Tesla’s most popular vehicle, at Gigafactory Texas in Austin anytime soon, and according to Elon Musk, his company would invest over $10 billion in Gigafactory Texas and employ 20,000 workers.

The vehicles Tesla is currently selling in the US are produced at its Fremont factory in California, where approximately 500,000 electric vehicles are made in a year. At its full capacity, the Gigafactory Texas is expected to produce even more cars, double what the Fremont factory makes.

The new factory is a key element in Tesla’s growth strategy in the US and now the automaker sells its cars in the US with delivery timelines of nearly 12 months for some of its models.

Elon Musk said via Twitter that ‘Giga Texas is a $10B+ investment over time, generating at least 20k direct & 100k indirect jobs.’
Of course, the investment will be worthwhile once the company starts Cybertruck and Tesla Semi production at the new factory.

In November, Tesla was confirming its plan to open a new factory to build battery manufacturing equipment in Canada.
The automaker has released a unique look into its expanding presence in Canada, where the company is planning to work on “machines that build the machine.” Back in 2019, Tesla obtained Canada-based Hibar, which produces pumps used in fast-speed battery equipment that the company is advancing for its new 4680 cells. The new factory will produce battery manufacturing equipment in Markham, Ontario.