Tech Talk: Elon Musk Opens ‘Giga Texas’
Tesla Founder and CEO Elon Musk, officially opened the company’s fourth car-making factory dubbed ‘Giga Texas’ in a ceremony held last night in Austin, Texas. The ceremony marked the start of production at the new plant. ‘Giga Texas’ comes barely a month after the opening of ‘Giga Berlin’ in the German Capital.
Speaking at the ceremony, Musk described ‘Giga Texas’ as “the biggest factory by size in the US”. When fully ramped up, the plant is also expected to be the highest volume US auto plant. ‘Giga Texas’ is projected to produce 500,000 electric vehicles by 2023.
The new facility will initially make the Model Y Hatchback with the Cybertruck expected to go into production by next year. Musk also announced that the factory will commence production of the Optimus Humanoid robot as early as 2023.
Tesla is expected to move its corporate headquarters to the State of Texas following disagreements with California officials.
The electric vehicle manufacturing company has witnessed impressive growth over the past years and with worries over climate change and rising global fuel prices, the demand for Tesla vehicles is only expected rise even higher.
However, it’s not all smooth sailing for the company. Ongoing shortage of computer chips and greater competition for raw materials are some of the challenges the company faces in a bid to meet its production targets.
Tesla shares rose 1.1% to $1,057.26 in Nasdaq trading on Thursday.