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Tesla Sees 'First Substantial Completion' Of Gigafactory Texas By Next May

Tesla Inc (NASDAQ: TSLA) has been hard at work building Gigafactory Texas. This new facility will produce the highly anticipated Cybertruck, along with eventually producing the Model 3 and Model Y.

· 09/10/2020 12:15

Tesla Inc (NASDAQ:TSLA) has been hard at work building Gigafactory Texas. This new facility will produce the highly anticipated Cybertruck, along with eventually producing the Model 3 and Model Y.

Now updated plans from Tesla posted on AustinTexas.gov show the company's current timeline on construction and available opportunities:

  • Start Rough Grading – July 17, 2020
  • First Dry In – Dec 30, 2020
  • First Substantial Completion – May 1,  2021

The document also mentions a projected cost of $400 million, and the factory will create 5,000 jobs over a four-year time period.

Benzinga's Take: Substantial completion isn't fully detailed here, but it could be following the definition of when the project is complete to the extent that it's ready to be used for its intended purpose. This would put initial trial run manufacturing of the Cybertruck to begin shortly after May 1.

This timeline fits with Tesla's goal of the first Cybertrucks being sold to customers by the end of 2021.

Photo courtesy of Tesla.