TESLA chooses Austin, TX

After frustrations with California over Covid-shutdowns at their Fremont plant, Tesla has chosen Austin, TX as the site of their next factory.

• TESLA is buying a 2,100 acre land assemblage just outside Austin for $5M.

• They are poised to generate roughly $60M in incentives to build the factory. These tax incentives are likely the only thing hanging in the balance at this point.

• Construction on the site, which is near Austin's airport, is already underway.

• CEO Elon Musk has been referring to Tesla’s new factory as “Cybertruck Gigafactory” because it will be where Tesla produces its new electric pickup truck.

• They also plan to produce the Model Y at the factory.

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