Elon Musk: Tesla, Eyeing to Invest More Than $10 Billion and Employ 20,000 Workers in Gigafactory Texas

The CEO and Product Engineer of Tesla, Elon Musk, said that the electric car manufacturing company is planning to invest more than $10 billion in Gigafactory Texas, as well as employing 20,000 workers.

Gigafactory Texas in Austin will be producing the Model Y production any day, with the new factory being critical to Tesla's expansion plans in the United States, according to a Electrek report.

Gigafactory Texas is seen to more than double the output of the company once it is fully ramped up.

Model Y is Tesla's most popular vehicle at the new factory.

The company was spending $1 billion on the project for the creation of the new factory, according to Tesla's recent filings.

Meanwhile, there have been also discussions about the $60 million in incentive that the local government gave Tesla to build the factory in Austin.

Tesla is eyeing to finish the construction of the factory by the end of 2021, according to a CNET report.

However, the construction was estimated to finish right before 2022, making it unclear if any cars will roll down the new line in 2021 at all.

Tesla Manufacturing Cars in Texas

The Travis County Commissioners Court is considering a request from Tesla to change the name of Harold Green Road.

However, the county has not yet made formally made the change. They are not even confirming what the new name might be, according to an Austin American-Statesman report.

The Commissioners Court voted this week to hold a public hearing on December 21 on possibly changing a road's name, as well as to negotiate with Tesla about additional work on another nearby road.

The Texas Department of Transportation has already erected a sign stating that the road is now Tesla Road, while Google Maps has already updated searches for "Harold Green Road" to instead show "Tesla Road."

Brad Wheelis, a TxDOT public information officer, said that the placed sign of the new Tesla Rod was a result of a miscommunication between his agency and Travis County.

Wheelis said that their agency, Travis County, and Tesla have been in constant communication about infrastructure during the construction of the factory off of Harold Green Road.

The public information officer said that the agency will wait for direction from the county regarding the signage and name change.

Tesla currently owns a 2,100-acre property at Texas 130 and Harold Green Road, where it is establishing a $1.1 billion manufacturing facility.

Musk announced at a shareholders meeting in October that the company would be moving its corporate headquarters to Austin.

However, the company has not announced if it plans to build a separate headquarters building at the site.

It has not given any details on how many employees might be coming to Central Texas or how many jobs might be created by the move.

TxDOT also noted that it has plans for traffic improvements in the area such as installing a traffic signal at FM 973, as well as adding turn lanes at FM 973.

This article is owned by Latin Post.

Written by Mary Webber

WATCH: Tesla Gigafactory Texas 12/16/2021 (9:40AM). WAITING FOR MODEL Y - from Brad Sloan