Tesla has filed for approval of the first phase of Gigafactory Texas with the Texas Department of Licensing and Regulation.
It reveals the budget and completion date for the first phase of the factory set to produce the Model Y.
Tesla is simultaneously building two important new factories: Gigafactory Texas in Austin, and Gigafactory Berlin just outside of Berlin, Germany.
The automaker is trying to start production at both sites by the end of the year.
That goal is crucial for Tesla’s growth plan.
For Gigafactory Berlin, the automaker has run into some issues including the environmental approval being delayed as a result of the public comment process restarting.
It would likely take at least another month to secure the approval and start production.
For Gigafactory Texas, it looks like there are fewer red tapes and it is more about deploying the production capacity.
Now, new filings from Tesla with the Texas Department of Licensing and Regulation for approval of the Tesla Gigafactory Texas project.
There are filings for each of the five main parts of the Model Y production at the new facility.
Each of the filing feature a completion date of December 31, which is in line with Tesla aiming to start production by the end of the year.
The filings also mention a budget for each section:
- Body-in-white: $182 million
- General Assembly: $493 million
- Paint: $126 million
- Casting: $109 million
- Stamping: $150 million
The project adds up to just over $1 billion in costs.
This is only the first phase of what is going to be a giant project for Tesla, with Model 3, Cybertruck, and Tesla Semi production being added to the site.
But Model Y is first in line, and this $1 billion investment is expected to enable Tesla to produce as many as 500,000 Model Y SUVs per year at Gigafactory Texas.
While all eyes are on Tesla starting production by the end of the year, the real feat is in ramping up production, which the automaker already warn could take much of 2022.
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