Elon Musk Living in Texas?! Industrial Info Tracks $1.6 Billion in Tesla Projects in Lone Star State
Elon Musk, one of the world's richest people and chief executive officer of Tesla Incorporated (NASDAQ:TSLA) (Palo Alto, California) and Space Exploration Technologies Corporation (SpaceX) (Hawthorne, California), has apparently taken up the "Gone-to-Texas" thread, telling The Wall Street Journal he has moved to Texas from California. He took a jab at California, saying the Golden State is taking its business entrepreneurs for granted. The Tesla and SpaceX headquarters will remain in California, however, according to news accounts.
While California offers spectacular natural scenery and Silicon Valley, it also known for its high taxes, crazy traffic, earthquakes and wildfires. The state is home to Tesla's vehicle assembly plant in Freemont, while neighboring Nevada has a Tesla lithium-ion battery gigafactory in Sparks. See Industrial Info's profiles on the Freemont vehicle assembly plant and the Sparks battery facility.
On the other hand, Texas is known for what it doesn't have; a state income tax or a personal capital-gains tax.
Industrial Info is tracking four active Tesla projects worth $3.87 billion, including two in Austin, Texas: a $1.2 billion Cybertruck gigafactory and a next-door lithium hydroxide refinery, valued at $400 million.
Site preparation for the 7.9 million-square-foot Cybertruck gigafactory kicked off in November this year and is planned to wrap up in third-quarter 2021. The plant will manufacture the Cybertruck, which has an angular, stainless steel cover and looks like it would be driven by Arnold Schwarzenegger in a science fiction movie. It also will manufacture the Tesla Semi Truck and support production of the Model 3 and Y electric cars. For more information, see Industrial Info's project report.
The lithium hydroxide refinery is in the preliminary design phase, with construction kickoff planned for the end of 2021, with completion by the end of 2022. The refinery will turn hard rock spodumene ore into lithium hydroxide, which is used directly in battery cells for Tesla's vehicles. For more information, see Industrial Info's project report.
The Greater Austin Metropolitan area, which encompasses all or parts of five countries, is home to $3.36 billion worth of active Industrial Manufacturing projects. In addition to the Tesla projects, some of the big-ticket projects in the area include:
- Samsung Group's (Seoul, South Korea) Austin Semiconductor Wafer Fab Manufacturing Plant Expansion; see project report
- Amazon.com Incorporated's (NASDAQ:AMZN) (Seattle, Washington) Pflugerville Distribution Center; see project report
- BAE Systems PLC's (Farnborough, England) Electronic Countermeasure Systems Manufacturing Campus; see project report
Other active Tesla projects being tracked by Industrial Info include a lithium-ion battery manufacturing plant renovation and expansion in Fremont, California, which is planned for completion in January 2021; see project report, and the Gruenheide Grassroot Electric Cars And Lithium-Ion Batteries Manufacturing Plant in Brandenburg, Germany; see project report.