Tesla Adding 5M-SF to Austin Plant
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Austin’s Tesla Gigafactory is already 10 million square feet, and now the company wants to increase the size by 50%.
The electric vehicle manufacturer has submitted filings to the Texas Department of Licensing and Regulation for ground-up construction and interior finish-out at the electric vehicle plant. The work is expected to encompass 5.2 million square feet and start immediately.
The Austin Business Journal reports owner Elon Musk owns thousands of acres in Travis and Bastrop counties for Tesla and his various companies. Tesla came on the scene in Texas in the early 2020s, and it’s now the largest commercial building owner in the region. Additionally, social media company X recently listed its headquarters as an address in Bastrop, where Musk’s Boring Co. is also headquartered.
The company has seen a large bump in sales and its stock price. The stock rose to a session high of $262.2 with volumes of roughly 200 million shares. It was the biggest gain since May 2013
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October 29, 2024
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