There are a few reasons Musk chose Texas for the Tesla Gigafactory. For one, the company had simply outgrown its California factory. A relocation to Texas also offered a cheaper cost of living, low state taxes, affordable housing, and room to build. Tesla has other operations in Nevada, Shanghai, and Berlin. So what makes the new Austin GIgafactory so special?
The Tesla Gigafactory in Austin, Texas is truly massive
What is Tesla planning to do with all of this space?
Home of the new Cybertruck
With the completion of the new Tesla Gigafactory in Austin, the company also plans to finally complete the production of the much-anticipated ultra-futuristic Cybertruck.
The Gigafactory will also be a manufacturing hub for popular models like the Model 3 and Model Y. So far, Tesla has invested over $1 billion in the new factory.
The Tesla Gigafactory brings tech to Texas
Tesla and its Gigafactory aren’t the only tech company moving out to Texas, but it will be the biggest one yet. The facility is anticipated to create over 5,000 jobs in its first four years of operation and is already hiring for some roles.
While Texas was chosen in part for its affordability, real estate prices in the Austin area have been steadily climbing, even before Tesla’s announcement.
Local media estimates that the average real estate in the facility zip code has seen a price spike of around 40%. This
could be in response to the increased presence of tech companies, like Tesla, in the area.
Not everyone has Elon Musk-levels of money
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