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Tesla’s Elon Musk shuts the door on Gigafactory Texas talk, but for how long?
George Strait once said that all of his exes live in Texas, and maybe Elon Musk doesn’t want his new electric vehicle facility to be infiltrated by the country music legend’s past lovers.
Just kidding.
While we all patiently wait for Tesla’s CEO to announce the location of its next vehicle production plant, I was pretty sure that Texas had been confirmed as the spot. After seeing some reports, I dug a little deeper and found that the State of Texas had some records, including purchase price agreements, on a plot of land just outside of Austin.
However, when I reported the news, Elon responded and told us at Teslarati that the company had the option to buy the land, but they had not secured a purchase agreement and exercised its right to purchase the property.
I have to admit, I was pretty shocked. I have been following the situation closely for months, and it is pretty evident that Texas certainly has the most advantages. Not to mention, Elon definitely seems to be leaning toward it. He’s been talking about Texas since January, and we’ve already talked about the distinct advantages the state holds over any other location.
However, Musk wasn’t done there. He then added that Tesla was looking at several locations. I’m assuming Tulsa, Oklahoma, is also in the mix considering that has been a location that is very open to taking its oil roots and trading them in for a new electrified infrastructure that will create a string of sustainable transportation production lines in the state.
However, it is really evident that Tesla might be having some second thoughts on the Lone Star State…or are they?
First, let’s consider the details of the land plot in question in Texas. It’s 2,100 acres, its $5.2 million bucks, and its really perfect for what Tesla has wanted. We know that the new factory is set to be the biggest one yet because both Zachary Kirkhorn and Elon said they are going to start calling the factories “Tera” instead of “Giga.”
To put the size of the land into perspective, Fremont sits on 370 acres, Giga Shanghai on 210 acres, and Giga Berlin on 740 acres. This means the prospective Texas land plot is nearly three times as big as Giga Berlin, which is the factory that will produce Tesla cars for all of Europe, and it is all going to be used to create the Cybertruck and the Model Y.
We know the demand for the Cybertruck is enormous. The pre-order number is not officially public knowledge. Still, there is some indication that Tesla is getting near three-quarters of a million reservations for the truck and its tough, robust exterior.
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We know that Tesla wants to build the plant in the middle of the country. That could mean anything, from North Dakota to Texas literally, and it could go slightly West to Colorado, and slightly East to Missouri. That’s what is confusing.
Now that there are apparently “several locations” in the mix, the real question is: Why is the Texas deal taking so long? Is Tesla looking to negotiate an even lower price? I decided to dig a little more.
According to Texas A&M University’s “Texas Rural Land Prices” page, where the college has the price of land from Q4 1971 up until Q1 2020, the most recent cost of an acre of property in the state is $2,986. The prospective plot of land where Tesla could build its next factory is 2,100 acres. So the value of the property, according to these statistics, is $6,270,600. According to the application that Tesla and the State of Texas have, the land price that was agreed upon is $5,298,275, giving the company a nearly $1 million discount. It is about a 16% discount according to my handy, dandy calculator.
Texas has also announced its intentions to give the automaker a sweet incentive package to the tune of $68 million, according to reports. That’s a lot of scratch, and it could certainly help with the purchase price, the labor costs of constructing the building, and more.
It is just tough to say why the deal is taking a while. The Cybertruck’s Dual and Tri-Motor variants are going to be produced at the tail-end of 2021, and with Tesla’s track record with the Model Y in the US and the Model 3 in China, they’ll be built well before then. That would give Tesla, if the company started construction in July, 18 months to complete the Cybertruck portion of the factory. Fremont could handle Model Y production until the new factory’s Phase 2 is completed.
I am personally excited to see where the factory ends up, and I really, genuinely think that Texas is where the factory will end up.
Where do you think the factory will be when its all said and done? And why do you think Tesla is kind of dragging its feet through the purchase process?
Tesla’s flagship sedan, the Model S, has officially been named one of TIME Magazine’s Best Inventions of the 2000s. It joins its sibling, the Model 3, which made the list in 2017.
The Model S is among the most crucial developments in the automotive industry in the last century.
Just as the Ford Model T made its mark on passenger transportation, becoming the first combustion engine vehicle to be successfully developed and marketed at a time when horse and buggy were the preferred mode of transportation, the Model S revolutionized things a step further.
Although it was not the first EV to be developed, the Tesla Model S was the EV that put EVs on the map. In 2012, TIME recognized the Model S as a piece of technology that could truly transform the car industry.
The publication wrote:
“This electric four-door sedan has the lines of a Jaguar, the ability to zip for 265 miles (426 km) on one charge—that’s the equivalent of 89 m.p.g. (2.6 L/100 km)—and touchscreen controls for everything from GPS navigation to adjusting the suspension.”
Looking back, TIME was right on. The Tesla Model S was truly a marvel for its time, and it, along with the OG 2008 Roadster, can be seen as the first two EVs to push electrification to the mainstream.
As TIME described this year, the Model S “proved to be a game-changing experience for electric vehicles,” and it ended up truly catalyzing things for not only the industry, but Tesla as well.
The Model S acted as a fundraiser of sorts for future vehicles, just as the Model X did. They paved the way for the Model 3 and Model Y to be developed and offered by Tesla at a price point that was more acceptable and accessible to the masses.
The Current State of the Tesla Model S
The Model S contributes to a very small percentage of Tesla sales. The company groups the Model S with the Model X and Cybertruck in its quarterly releases.
Last year, that grouping sold 85,133 total units, a small percentage of the 1.789 million cars it delivered to customers in 2024.
Things looked to be changing for the Model S and the Model X this year, as Tesla teased some improvements to the two cars with a refresh. However, it was very underwhelming and only included very minor changes.
Lucid CEO shades Tesla Model S: “Nothing has changed in 12 years now”
It appeared as if Tesla was planning to sunset the two cars, and while it has not taken that stance yet, it seems more likely that the company will begin taking any potential options to heart.
CEO Elon Musk said a few years ago that the two cars were only produced due to “sentimental reasons.”
Tesla (NASDAQ: TSLA) has had a few weeks of overwhelmingly bullish events, and it is inciting several analysts to change their price targets as they expect the stock to potentially go Plaid Mode in the near future.
Over the past week, Tesla has not only posted record deliveries for a single quarter, but it has also rolled out its most robust Full Self-Driving (Supervised) update in a year. The new version is more capable than ever before.
Tesla Full Self-Driving v14.1 first impressions: Robotaxi-like features arrive
However, these are not the only things moving the company’s overall consensus on Wall Street toward a more bullish tone. There are, in fact, several things that Tesla has in the works that are inciting stronger expectations from analysts in New York.
TD Cowen
TD Cowen increased its price target for Tesla shares from $374 to $509 and gave the stock a ‘Buy’ rating, based on several factors.
Initially, Tesla’s positive deliveries report for Q3 set a bullish tone, which TD Cowen objectively evaluated and recognized as a strong sign. Additionally, the company’s firm stance on ensuring CEO Elon Musk is paid is a positive, as it keeps him with Tesla for more time.
Elon Musk: Trillionaire Tesla pay package is about influence, not wealth
Musk, who achieved each of the tranches on his last pay package, could obtain the elusive title as the world’s first-ever trillionaire, granted he helps Tesla grow considerably over the next decade.
Stifel
Stifel also increased its price target on Tesla from $440 to $483, citing the improvements Tesla made with its Full Self-Driving suite.
The rollout of FSD v14.1 has been a major step forward for the company. Although it’s in its early stages, Musk has said there will be improved versions coming within the next two weeks.
Stifel raises Tesla price target by 9.8% over FSD, Robotaxi advancements
Analysts at the firm also believe the company has a chance to push an Unsupervised version of FSD by the end of the year, but this seems like it’s out of the question currently.
It broke down the company’s FSD suite as worth $213 per share, while Robotaxi and Optimus had a $140 per share and $29 per share analysis, respectively.
Stifel sees Tesla as a major player not only in the self-driving industry but also in AI as a whole, which is something Musk has truly pushed for this year.
UBS
While many firms believe the company is on its way to doing great things and that stock prices will rise from their current level of roughly $430, other firms see it differently.
UBS said it still holds its ‘Sell’ rating on Tesla shares, but it did increase its price target from $215 to $247.
It said this week in a note to investors that it adjusted higher because of the positive deliveries and its potential value with AI and autonomy. However, it also remains cautious on the stock, especially considering the risks in Q4, as nobody truly knows how deliveries will stack up.
In the last month, Tesla shares are up 24 percent.
Tesla has landed permission to begin testing its Full Self-Driving suite in a new country: Sweden.
Tesla has been working to expand its Full Self-Driving suite across the world. Currently, it is available in seven countries: the United States, Canada, Mexico, Puerto Rico, Australia, New Zealand, and China, where it is referred to as “City Autopilot.”
Capabilities of the Full Self-Driving suite differ in each region based on the approvals given to Tesla by regulatory agencies.
In Europe, Tesla has been attempting for a long time to launch FSD in various countries, but regulatory red tape has been prolonging the company’s ability to launch the suite.
However, Sweden appears to be ready to allow Tesla to test FSD in some passenger and public locations, according to the country’s Transport Agency.
On X, a Swedish Tesla owner named Alexander Kristensen, says he received direct confirmation from the Transport Agency that Tesla has “received permission to test automated vehicles.”
Tesla got approval to test FSD in Sweden!
According to the Swedish Transport Administration, Tesla received approval to test FSD on all state highways and expressways in Sweden. The approval is valid for 3 cars owned by Tesla. pic.twitter.com/EVVPZZRpcs
— Alexander Kristensen (@LinkN01) October 9, 2025
The full email said:
“Tesla received permission to test automated vehicles last week. This includes three vehicles and all state highways and expressways in Sweden.”
— Alexander Kristensen (@LinkN01) October 9, 2025
Tesla has already been working with the Swedish Transport Agency on the first steps of Full Self-Driving’s approval. The company and the Transport Agency spent two weeks assessing data gathered during a Formal Site Assessment Test, or SAT.
Based on the communication from the Transport Agency to Kristensen, it appears the company has passed the SAT and will now be able to perform its own testing within the market.
This approval seems similar to the approval Tesla received in U.S. states for Robotaxi operation. Nevada and Arizona have both given Tesla approval for Robotaxi testing, but passengers are not allowed in the vehicles quite yet.
Instead, company employees perform the testing, which is likely what will go on in Sweden until the Transport Agency gives the company a green light to roll FSD software out to customers.
Tesla Model S makes TIME’s list of Best Inventions
Tesla analysts are expecting the stock to go Plaid Mode soon
Tesla lands permission to test Full Self-Driving in new country
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