Tesla CEO Elon Musk hosts ‘Cyber ​​Rodeo’ occasion to open Austin manufacturing facility

On Thursday evening, Tesla CEO Elon Musk spoke at a grand opening occasion for the electrical car maker’s new $1.1 billion manufacturing facility close to the Austin airport in Texas.

On the occasion, he spoke about how large the brand new manufacturing facility is, and teased merchandise which can be nonetheless in growth, together with the Cybertruck, and a robotaxi that he promised would look fairly futuristic.

“It wasn’t simple constructing this humongous constructing and getting all this tools right here,” Musk mentioned, sporting a big black cowboy hat and thanking Tesla’s neighbors in Travis County, in addition to Tesla workers who helped construct the plant.

“For those who put the constructing on its aspect, it is taller than the Burj Khalifa,” Musk mentioned, a reference to the world’s tallest skyscraper in Dubai. He joked that based on Tesla’s calculations, 194 hamsters might match within the constructing.

Tesla goals to make 500,000 items of the Mannequin Y in a single 12 months in Austin, the CEO revealed Thursday evening. The corporate can be hoping to begin manufacturing of its Cybertruck in Texas subsequent 12 months, Musk confirmed.

Nonetheless, Tesla’s timelines typically shift. Tesla, and different automakers, are grappling with chip shortages and hovering costs for uncooked supplies exacerbated by Russia’s brutal invasion of Ukraine.

“In trailing twelve months, we have delivered over 1,000,000 vehicles worldwide,” Musk mentioned. “There’s nonetheless a protracted approach to go.”

Tesla autos comprise greater than 75% of all absolutely electrical vehicles offered within the US right this moment, based on analysis by AutoForecast Options, with absolutely electrical autos comprising about 4% of all new car gross sales domestically.

Tesla constructed its Austin car meeting plan in about two years from the bottom up. Its first US automotive plant in Fremont, California, had been collectively owned by GM and Toyota earlier than Tesla tailored it to construct its Mannequin S sedan and Mannequin X SUVs, its first mass-manufactured autos, and later its extra reasonably priced Mannequin 3 and Mannequin Y.

The Fremont manufacturing facility remains to be working right this moment, however Tesla goals to extend manufacturing of its Mannequin Y electrical autos and batteries in Austin, and to supply its uncommon trapezoidal pickup, the Cybertruck, in Texas for purchasers in North America.

Sam Fioriani, vice chairman of worldwide car forecasting at AutoForecast Options, instructed CNBC the brand new plant is sorely wanted.

“With new merchandise on the way in which, they want extra plant house,” he mentioned. He believes Tesla’s Austin manufacturing facility, because it was freshly designed to fabricate Tesla merchandise solely, ought to assist the corporate enhance the standard of their vehicles, and scale back their manufacturing prices.

“They’ve constructed a couple of couple million autos to date, which suggests they need to have found out what works and what would not at this level. They need to be capable of improve the positives,” Fiorani mentioned.

Musk mentioned on Thursday evening that the Mannequin Y autos being produced in Texas characteristic what’s often known as a “structural pack,” which means the cells within the vehicles’ excessive voltage battery packs carry the load of the car.

Earlier than the Texas occasion, Tesla had hosted a grand opening and began some business manufacturing at one other new plant in Brandenburg, Germany.

The corporate’s Shanghai manufacturing facility, which started car manufacturing in late 2019, has been closed for days on finish because of covid well being restrictions within the area.

Earlier this week, Elon Musk despatched the share value of Twitter hovering after monetary filings and Twitter revealed that he had taken an roughly 9% activist stake within the social media firm and would take a board seat there.

Musk has constructed Tesla’s model on social media, particularly Twitter, and non-traditional advertising and marketing occasions just like the “Cyber ​​Rodeo.” Nonetheless, he didn’t focus on his plans for Twitter on the firm’s occasion on Thursday.

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