'Elon Musk's first comment was about Austin. His second was about their solar business...The fact that he is mentioning that, I believe he's starting to educate the market about Tesla being much more than a car company,' Gene Munster of Loup Ventures says.
Key Points
The site where Tesla has proposed to build its next "Gigafactory," is known as the Austin Green development. Tesla still has to purchase the land there, which would cost it an estimated $5 million, plus another $1.1 billion, at least, to build the plant, which will manufacture the Cybertruck. The property borders the Colorado River.
Before that, a local school district, Del Valle ISD, voted to approve Tesla's plan, dubbed the Colorado River Project LLC, last week.
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