No longer a California company.
Link here.
In one of the largest economic development projects in Austin’s history, electric automaker Tesla says it will build a $1.1 billion assembly plant in Travis County that will employ 5,000 people.
Wages at the factory — to be located on 2,100 acres off Texas 130 and Harold Green Road — will start at $35,000 annually, counting benefits, bringing job opportunities and investment to a southeastern portion of the county that officials say is sorely in need of them.
It will produce the electric vehicle maker’s upcoming Cybertruck electric pickup, as well as be a second site to build its Model Y SUV. Tesla officials previously have said they intend to break ground on the factory by the third quarter of this year, although CEO Elon Musk said Wednesday that initial work at the site actually began last weekend.
“The location is five minutes from (Austin-Bergstrom International Airport) and 15 minutes from downtown Austin,” Musk said, speaking on a conference call with Wall Street analysts following the company’s second-quarter earnings release.
"Tesla has lost more than $6.78 billion since 2003" per the WSJ. So the next $6.7 Billion of "if and when" profits belongs to its creditors? And I should be excited, why? But hey, they just eked out a $104 million profit in the most recent quarter.. Whoopee!
ReplyDeleteI thought Tesla would have been "broke" long before now; I certainly did not expect to see what I'm seeing now regarding Tesla -- that it still has the cash or the backing of banks to pivot from California to Texas this fast. But, it's clear that this is a "regulatory credits sales" company and not a car company.
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