Tesla Inc (NASDAQ:TSLA) is busy building multiple factories while its stock price soars.
While Gigafactory Berlin is being built in Germany, Tesla has also started construction on the company's second U.S. car manufacturing plant, Gigafactory Texas.
A new video shows that construction is moving quickly at the future Cybertruck factory. The foundation is being built as footer reinforcements are put in place, and the potential outline of the factory is beginning to take shape.
Trucks and different machines are active on-site. Site work began at Gigafactory Texas in late July.
Benzinga's Take: With Tesla's popularity, high demand and rapid expansion, the soaring stock price is starting to make sense. The 5-for-1 stock split announcement seemed to be the catalyst, but all of this news has been brewing for a long time.
Tesla aims to begin selling the Cybertruck to the public by the end of 2021, and it needs Gigafactory Texas to do it. At the current pace, it seems Tesla will be able to meet that delivery goal.
Screenshot from Terafactory Texas on YouTube.