Tesla's Texas Gigafactory gets a revamp
Tesla is expanding its gigafactory in Texas, with an investment of $775.7 million.
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Staff or Guest writer for The Dog of Wall Street.
2023-01-11 11:00

In the world of electric vehicles, it's no secret that Tesla ($179.83|1.22%) is leading the charge. And it looks like they're about to ramp up their efforts even more, with a massive $776 million expansion of their Texas gigafactory. The company known for shaking up the auto industry and sending shockwaves through the stock market is throwing a bunch of money to expand its gigafactory in Austin, Texas.
Tesla's Texas Gigafactory gets a revamp
But it's not just the expansion that has tongues wagging, it's the man behind it all. China Chief Tom Zhu has been promoted to take direct oversight of Tesla's U.S. assembly plants and sales operations in North America and Europe. This move makes Zhu the highest-profile executive at Tesla, second only to the one and only Elon Musk.

Now, you might be wondering, why is this such a big deal? Well, for starters, Zhu has been instrumental in getting Tesla's Shanghai plant back on track after COVID lockdowns in China. So, it seems safe to say that he knows a thing or two about overcoming obstacles and getting the job done.

But let's talk about that expansion in Texas. This move is one of Tesla's largest expansion drives since they set up their $5.5 billion gigafactory in Germany last year. And with plans to add five new facilities to the Austin site, including a cell test lab and a unit named "Cathode," it's clear that Tesla is committed to pushing the limits and continuing to innovate.

Some people might say that the timing of all this is strange, what with Tesla's fourth-quarter deliveries falling short of market estimates. But I say, never count out the company that's been proving the naysayers wrong since day one.

In this racing game, Tesla is making all the right turns. From expanding its presence in the United States to promoting top talent, it seems like they're always thinking several miles and turns ahead. And with a man like Tom Zhu at the helm, I have no doubt that they'll continue to dominate the industry and leave their competitors behind.

So hold onto your seats, because Tesla is just getting the car started.


Disclaimer: I have no positions in any of the stocks mentioned. I wrote this article myself, and it expresses my own opinions. I have no business relationship with any company whose stock is mentioned in this article. All information should be independently verified and should not be relied upon for purposes of transacting securities or other investments. See terms for more info.

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2023-01-11 11:00

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About the Author
Staff or Guest writer for The Dog of Wall Street.

$179.83
$2.161.22%
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PE Ratio41.82
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Last updated2022-12-09

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