Texas

Tesla plans to spend over $700 million to expand Austin gigafactory

AUSTIN (Austin Business Journal) — Tesla’s giant Austin factory could get substantially larger in the coming weeks.

The plans, filed with the Texas Department of Licensing and Regulation on Jan. 9, indicate the electric vehicle maker plans to invest $717 million to build an additional 1.4 million square feet of space at its Austin plant starting later in the month. Plans call for the construction and completion of four new buildings at 1 Tesla Road.

It’s the second major employer in Austin this week to indicate that now is the time to build for the coming years, despite uncertainty on the horizon for the coming year.

You can read the full story in the Austin Business Journal.

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