Tesla to build new megafactory in Texas, Electrek reports
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Tesla TSLA.O is going to build a new megafactory near Houston to operate a battery storage facility, Electrek reported on Wednesday, citing a tax abatement agreement with Waller County in Texas.
The electric vehicle company is going to build and manage its Megapack energy products in over a 1-million-square-foot building near Katy, Texas, according to the report.
Under the tax agreement, the company will receive abatements from the county based on property upgrades, including $44 million in facility improvements and $150 million in Tesla manufacturing equipment.
TheWallerCountyofficeofEconomicDevelopmentPartnershipandTesladidnotimmediatelyrespondtoReuters’requestsforcomment.
ThemajorityofTesla’sincomeisgeneratedfromitsEVbusiness,butCEOElonMuskhasbeenworkingongrowingitssolarenergyandbatterybusiness.
Teslahasasimilar gigafactoryinChina,whereproductiontrialsbeganlatelastyear.TheplantwillhelpthecompanytakeadvantageofChina’ssupplychainandlowercostsofitslithium-ionbatteries.
ThenewfactoryinTexass
