Tesla will invest up to $775.7 million to expand its gigafactory in Austin, Texas, where the automaker produces electric vehicles and batteries.
The plans call for four new buildings at the site, including facilities for battery cell testing and manufacturing, cathode and drive unit manufacturing, and a die shop, according to recent filings with the Texas Department of Licensing and Regulation.
In the filings, Tesla said the construction will total 1.4 million square feet for “ground up and complete interior finish out of the [electric vehicle] manufacturing facility” in Austin.
The largest of the new projects is a 693,093-square-foot facility called Cell 1 with an estimated cost of $368 million. Construction on the project is scheduled to begin Jan. 23 and be completed by the end of 2024.
Other plans include a 423,032-square-foot facility for drive units, a 321,186-square-foot cathode manufacturing facility and a 2,560-square-foot cell testing lab.
Tesla (NASDAQ: TSLA) opened its factory in April 2022 in Austin, where the company is also headquartered. It produces the Model Y electric vehicle at the facility. Tesla has said it will also begin producing its Model 3 vehicles and Cybertruck in Austin.
The Austin expansion comes a few days after Reuters reported that Tesla promoted its China production chief, Tom Zhu, to take oversight of the automaker’s U.S. assembly plants.
Tesla is expected to host its investor day in March. The company also has manufacturing facilities in California, Nevada, China and Germany, with reported plans to open a factory in Mexico.
In December, Tesla also debuted its long-awaited all electric Class 8 Semi truck at an event in Nevada. The automaker said it will build 50,000 units of the Semi by 2024 at its Nevada factory.
Click for more FreightWaves articles by Noi Mahoney.
More articles by Noi Mahoney
Mexico averaged 39 cargo thefts a day in November
Borderlands: Canada still top US trading partner ahead of Mexico
Brokerage Compliance Symposium
The day before F3. Every compliance issue you face - fraud exposure, carrier liability, FMCSA rules, cargo theft, insurance gaps - navigated by attorneys and operators defining best practices in a changing industry.
F3 Awards Dinner
The night before F3. FreightTech100 companies honored. FreightTech 25 and Shipper of Choice winners revealed live. Cocktail reception into dinner and live music - 300 industry leaders in one purpose-built room.
F3: Future of Freight Festival
Industry-defining keynotes, rapid-fire technology demos, and industry leaders networking in experiences across Chattanooga - plus the inaugural F3 Awards Dinner featuring the FreightTech and Shipper of Choice reveals.
The day before F3. Every compliance issue you face - fraud exposure, carrier liability, FMCSA rules, cargo theft, insurance gaps - navigated by attorneys and operators defining best practices in a changing industry.
The Signal at Chattanooga Choo Choo • Chattanooga, TN Register NowThe night before F3. FreightTech100 companies honored. FreightTech 25 and Shipper of Choice winners revealed live. Cocktail reception into dinner and live music - 300 industry leaders in one purpose-built room.
The Signal at Chattanooga Choo Choo • Chattanooga, TN Register NowIndustry-defining keynotes, rapid-fire technology demos, and industry leaders networking in experiences across Chattanooga - plus the inaugural F3 Awards Dinner featuring the FreightTech and Shipper of Choice reveals.
The Signal at Chattanooga Choo Choo • Chattanooga, TN Register Now