Tesla will build Cybertruck factory in Austin, Musk thanks Tulsa

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Tesla will build Cybertruck factory in Austin, Musk thanks Tulsa
Tesla will build Cybertruck factory in Austin, Musk thanks Tulsa

Tesla will build a new factory in Austin, Texas to manufacture its Cybertruck, electric semi truck, and Model 3 and Model Y vehicles. Both Austin and Tulsa, Oklahoma made a bid for Elon Musk to locate in those cities.

It’s reported that Musk said construction has already begun on the 2,000-plus-acre site, on the Colorado River and close to Austin-Bergstrom International Airport, and that the factory will “be open to the public” and is “going to basically be an ecological paradise.”

It will be the company’s fourth U.S. factory, along with its vehicle assembly plant in California, a solar facility in New York, and a battery plant in Nevada. Tesla also builds vehicles near Shanghai, China, and is building a new factory near Berlin.

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The new plant is expected to eventually hire 5,000 full-time workers, at an annual average salary of US$47,000.

It’s not known exactly what tax breaks were offered by Austin officials, but last June, Tesla filed an application for a tax abatement. In a statement, Texas governor Greg Abbott said, “Tesla is one of the most exciting and innovative companies in the world, and we are proud to welcome its team to the State of Texas. …We’ve built an economic environment that allows companies like Tesla to innovate and succeed.”

In Tulsa, a local Tesla fan club painted a 22-metre-tall landmark statue of an oil driller with Tesla’s logo in the hopes the city would be chosen. Following the news that it wasn’t, Oklahoma governor Kevin Stitt tweeted, “I wish Elon Musk and Tesla all the best. In fact, I wish them so much success they are forced to expand again, because I know just the place.”

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Musk reportedly said that he will “strongly consider Tulsa” for his expansion in future.

In other news, Reuters reported that Tesla posted a profit in the second quarter of 2020, in spite of the global pandemic. The automaker claimed it earned non-adjusted net income of US$104 million, or US50 cents per share profit. That marks the electric auto company’s fourth straight profitable quarter, a requirement for consideration for inclusion in the S&P 500 stock index.

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Tesla previously announced that it had delivered more than 90,000 vehicles in the second quarter, and plans to reach at least 500,000 vehicles by the end of 2020. Thanks to the second-quarter stock rise, Musk’s holdings in Tesla qualify him for a US$2.1 billion payout.

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