Tesla has registered in the state of Texas to expand its electric vehicle manufacturing plant in Austin this year.
January filings with the Texas Department of Licensing and Regulation reveal Tesla’s plans to invest over $770 million in constructing facilities within the state. These include workshops for battery cell production and testing, cathode and drive unit manufacturing, and a stamping facility.
The automaker, led by Elon Musk, officially opened its Texas electric vehicle and battery factory in April 2022 with a “Cyber Rodeo” event for shareholders and fans. Tesla currently produces some of its Model Y SUVs in Austin and plans to launch mass production of the sci-fi-inspired Cybertruck pickup there.
Following the opening of its Austin plant and another vehicle assembly plant outside Berlin, Germany, CEO Elon Musk referred to the facilities as “giant money furnaces” in an interview with the Tesla Silicon Valley video blog.