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Tesla intends to invest more than $770 million in the expansion of its Texas factory.

Tesla has filed paperwork with the state of Texas to expand its electric vehicle manufacturing facility in Austin this year.

According to filings with the Texas Department of Licensing and Registration in January, Tesla intends to spend up to $770 million on the construction of facilities in Texas, including battery cell testing and manufacturing, cathode and drive unit manufacturing, and a die shop.

Tesla’s plans and filings have previously been covered by the Austin Business Journal.

In April 2022, Elon Musk’s Tesla officially opened its Texas electric vehicle and battery factory, hosting a “cyber rodeo” party for shareholders and fans. Tesla currently produces some of its Model Y crossover utility vehicles in Austin, and the company plans to mass-produce its science fiction-inspired Cybertruck, an unconventional pickup, there as well.

Musk described Tesla’s Austin factory and another vehicle assembly plant outside Berlin as “gigantic money furnaces” in an interview with Tesla Owners Silicon Valley after the company first opened its doors.

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