Tesla Inc. will reportedly hold an event to launch its USD 1.1 billion Gigafactory in Texas, which will boost the production of electric vehicles and batteries, crucial for the EV maker’s growth ambitions.
The Austin factory, combined with the Berlin factory, will double down its annual production capacity to 2 million vehicles, with Tesla planning to increase the production at both its California and Shanghai factories as well. The world’s largest EV maker is expecting a 50% annual increase in deliveries through a multi-year timeframe.
Tesla CEO Elon Musk touted the “Cyber Rodeo” event as the biggest party on earth while the Travis County fire marshal stated that Tesla claimed that the event will likely be around 15,000 people. The invite-only party will consist of interactive tours accompanied by live entertainment as well as food.
Giant casting presses would be used to make the rear and front of the cars at new factories to reduce manufacturing cost and time, Tesla claimed.
Earlier this year, Tesla revealed that it is planning to start deliveries of Model Ys which is equipped with in-house 4680 batteries by the end of the first quarter, but its developments remain unclear.
Tesla is planning to develop low-priced & low-range versions of its Model Y at its Texas factory to avert competition from its rivals. Meanwhile, the automobile giant has also received conformity certificates from U.S. EPA (Environmental Protection Agency) for Model Y’s two new variants whose driving ranges will be 279 and 244 miles as compared to its current model Y which gives a 330-mile range.
In other developments, Musk recently announced that Tesla will expand its FSD (Full-Self Driving) beta software to all subscribers in North America this year, with an additional promise of deploying robotaxis.