Construction of Tesla Cybertruck factory underway.
Tesla has chosen Austin, Texas as its next U.S.-based Gigafactory, as confirmed by Elon Musk himself. The Tesla CEO made the announcement during the company’s earnings call on Wednesday, July 22.
Musk also declared that the Gigafactory will be open to the public. The entrepreneur stated that the plant and its nearby surroundings are going to be “an ecological paradise”, by containing a boardwalk, alongside hiking and biking trails.
Local resident Jeff Roberts captured aerial footage of the construction site, and released it on YouTube. The footage clearly shows that construction is well underway.
Real estate Media Company The Real Deal reported that total construction costs are estimated at $1.1 billion. The report also indicated that the construction site consists of 2,100 acres (approximately 8.5 km2).
Tesla Models Y and 3 are also going to be produced alongside the Cybertruck in the new factory.
Why did Tesla opt for Austin, TX?
It all came down to one main reason as to why Tesla has chosen The Capitol City: tax breaks. Travis County, which encompasses the city of Austin, voted to give the company tax breaks worth at least $14.7 million.
Contrary to popular belief, tax breaks are not inherently harmful. Their main objective is to reduce monetary burdens on an individual and/or commercial taxpayer. This allows companies to innovate, provide more jobs, and to lower the cost of their products. As far as the latter is concerned, this will automatically render them more competitive on the market.
Which definitely is the case regarding Tesla. The company is expected to hire approximately 5,000 workers at a median salary of $47,147 per year. Entry-level positions start at $35,000 per annum.
Austin Mayor Steve Adler expressed his delight on Twitter, stating that the plant will constitute an “important economic boost”. Texas Governor Greg Abbott also weighed in on the matter. In a statement released on July 22, Gov. Abbott announced that Tesla’s investment will bring “tremendous benefits”.
In conclusion, Tesla is further cementing itself as one of the global leaders of clean-energy solutions.
Its exponential growth is of paramount importance for a more sustainable ecosystem.