Tesla details US$1 billion costs for new Texas factory, targets year-end completion

AUSTIN : Tesla Inc is planning to spend more than US$1 billion on its new vehicle factory in Austin, Texas, and plans to complete construction by the end of this year, public filings with a Texas state agency showed.

Filings submitted to the Texas Department of Licensing and Regulation on Friday outlined Tesla's spending on various manufacturing capabilities at its Austin factory. The company said it plans to complete construction of its general assembly, paint, casting, stamping and body shop facilities by Dec. 31.

The five facilities would have a combined square footage of nearly 4.3 million , and cost a combined US$1.06 billion, according to the filings.The TDLR regulates and licenses a broad range of businesses, facilities and equipment. The Tesla filings were made under the agency's architectural barriers project, which reviews and inspects projects ensure they comply with Texas' accessibility regulations.

Construction for Tesla's new factory, located close to the airport on the eastern outskirts of Austin and projected to cost US$1.1 billion, began during the summer of 2020. The company is expected to receive nearly US$65 million in local tax rebates for the factory, which Tesla said will create some 10,000 jobs, most of them low skilled.

Construction groups can be seen working on the massive plant day and night, and the factory building is expected to be at least 0.75 miles long once completed.Source: Reuters

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