News
Tesla offered Texas land for Cybertruck factory [Updated]
Update: Elon Musk has clarified that Tesla currently has the option to purchase the Austin, TX land. But so far, Musk has stated that the electric car maker has not exercised it.
Tesla has an option to purchase this land, but has not exercised it
— Elon Musk (@elonmusk) June 18, 2020
— Original article follows —
Tesla has acquired a 2,100-acre plot of land 12 miles outside of Austin in what could be the home to its upcoming Cybertruck production facility.
An application from the Texas Comptroller’s office describes Tesla’s plans to develop and design a “high-tech electric vehicle manufacturing plant in Travis County.” This provides a strong indicator that Tesla has chosen Texas to be the home of its next EV production facility.
The application states, “Tesla Inc is evaluating the possible development, design, and construction of a high tech electric vehicle manufacturing plant in Travis County within the Austin Green property located at the intersection of SH-130 and Harold Green Road. Attached is an exhibit that shows the planned layout of the facility on the site and is subject to confidentiality assertions above.”
The red outlined area is the plot of land that Tesla has reportedly purchased.
According to documents, the plant will “ultimately comprise a 4-5 million square foot manufacturing plant. Construction timing is still to be determined but anticipated to be sometime over the next 2-3 years pending required approvals.”
Tesla purchased the land for $5,298,275, documents from the State of Texas indicate. The document also indicates that construction will begin in the third quarter of 2020, pending required approval from the State of Texas.
All indications until this point has led to Tesla utilizing the Lone Star State for its next, and possibly largest, production facility to date. In January, CEO Elon Musk tested the waters to see if Texas was the appropriate location for its next factory via a Twitter poll. The results were overwhelmingly positive, with 80% of the 305,724 participants in the survey being in favor of a “Giga Texas.”
-
- Credit: State of Texas/Travis County
-
- Credit: State of Texas/Travis County
The production facility will be Tesla’s fifth production facility behind Gigafactory Nevada, Gigafactory New York, Gigafactory Shanghai, and Gigafactory Berlin. It will be the fourth electric vehicle production facility behind the Fremont factory, Shanghai, and Berlin.
The facility will likely produce the Tesla Cybertruck, along with the Model Y crossover. The production of the Cybertruck’s Dual and Tri-Motor variants is expected to begin in late 2021.
With the Cybertruck’s production date scheduled for late next year, Giga Texas could operate much like Giga Shanghai, which started vehicle production activities as soon as the first phase of the plant was completed. In Shanghai, Tesla is completing the 2nd Phase of the facility, which will build the Model Y crossover. This strategy will likely be implemented in Texas to keep Cybertruck production on schedule as much as possible.
Musk’s indication of Texas being Tesla’s new home has finally come to fruition. After hinting for months that Texas would ultimately be the location of the electric automaker’s new facility for months, documents indicate that Tesla will begin construction in the third quarter of 2020, and could be cranking out electric vehicles as soon as 2021.
Investor's Corner
Tesla gets tip of the hat from major Wall Street firm on self-driving prowess
“Tesla is at the forefront of autonomous driving, supported by a camera-only approach that is technically harder but much cheaper than the multi-sensor systems widely used in the industry. This strategy should allow Tesla to scale more profitably compared to Robotaxi competitors, helped by a growing data engine from its existing fleet,” BoA wrote.
Tesla received a tip of the hat from major Wall Street firm Bank of America on Wednesday, as it reinitiated coverage on Tesla shares with a bullish stance that comes with a ‘Buy’ rating and a $460 price target.
In a new note that marks a sharp reversal from its neutral position earlier in 2025, the bank declared Tesla’s Full Self-Driving (FSD) technology the “leading consumer autonomy solution.”
Analysts highlighted Tesla’s camera-only architecture, known as Tesla Vision, as a strategic masterstroke. While technically more challenging than the multi-sensor setups favored by rivals, the vision-based approach is dramatically cheaper to produce and maintain.
This cost edge, combined with Tesla’s rapidly expanding real-world data engine, positions the company to scale robotaxis far more profitably than competitors, BofA argues in the new note:
“Tesla is at the forefront of autonomous driving, supported by a camera-only approach that is technically harder but much cheaper than the multi-sensor systems widely used in the industry. This strategy should allow Tesla to scale more profitably compared to Robotaxi competitors, helped by a growing data engine from its existing fleet.”
The bank now attributes roughly 52% of Tesla’s total valuation to its Robotaxi ambitions. It also flagged meaningful upside from the Optimus humanoid robot program and the fast-growing energy storage business, suggesting the auto segment’s recent headwinds, including expired incentives, are being eclipsed by these higher-margin opportunities.
Tesla’s own data underscores exactly why Wall Street is waking up to FSD’s potential. According to Tesla’s official safety reporting page, the FSD Supervised fleet has now surpassed 8.4 billion cumulative miles driven.
Tesla FSD (Supervised) fleet passes 8.4 billion cumulative miles
That total ballooned from just 6 million miles in 2021 to 80 million in 2022, 670 million in 2023, 2.25 billion in 2024, and a staggering 4.25 billion in 2025 alone. In the first 50 days of 2026, owners added another 1 billion miles — averaging more than 20 million miles per day.
This avalanche of real-world, camera-captured footage, much of it on complex city streets, gives Tesla an unmatched training dataset. Every mile feeds its neural networks, accelerating improvement cycles that lidar-dependent rivals simply cannot match at scale.
Tesla owners themselves will tell you the suite gets better with every release, bringing new features and improvements to its self-driving project.
The $460 target implies roughly 15 percent upside from recent trading levels around $400. While regulatory and safety hurdles remain, BofA’s endorsement signals growing institutional conviction that Tesla’s data advantage is not hype; it’s a tangible moat already delivering billions of miles of proof.
News
Tesla to discuss expansion of Samsung AI6 production plans: report
Tesla has reportedly requested an additional 24,000 wafers per month, which would bring total production capacity to around 40,000 wafers if finalized.
Tesla is reportedly discussing an expansion of its next-generation AI chip supply deal with Samsung Electronics.
As per a report from Korean industry outlet The Elec, Tesla purchasing executives are reportedly scheduled to meet Samsung officials this week to negotiate additional production volume for the company’s upcoming AI6 chip.
Industry sources cited in the report stated that Tesla is pushing to increase the production volume of its AI6 chip, which will be manufactured using Samsung’s 2-nanometer process.
Tesla previously signed a long-term foundry agreement with Samsung covering AI6 production through December 31, 2033. The deal was reportedly valued at about 22.8 trillion won (roughly $16–17 billion).
Under the existing agreement, Tesla secured approximately 16,000 wafers per month from the facility. The company has reportedly requested an additional 24,000 wafers per month, which would bring total production capacity to around 40,000 wafers if finalized.
Tesla purchasing executives are expected to discuss detailed supply terms during their visit to Samsung this week.
The AI6 chip is expected to support several Tesla technologies. Industry sources stated that the chip could be used for the company’s Full Self-Driving system, the Optimus humanoid robot, and Tesla’s internal AI data centers.
The report also indicated that AI6 clusters could replace the role previously planned for Tesla’s Dojo AI supercomputer. Instead of a single system, multiple AI6 chips would be combined into server-level clusters.
Tesla’s semiconductor collaboration with Samsung dates back several years. Samsung participated in the design of Tesla’s HW3 (AI3) chip and manufactured it using a 14-nanometer process. The HW4 chip currently used in Tesla vehicles was also produced by Samsung using a 5-nanometer node.
Tesla previously planned to split production of its AI5 chip between Samsung and TSMC. However, the company reportedly chose Samsung as the primary partner for the newer AI6 chip.
Elon Musk
Elon Musk: Tesla could be first to build AGI in humanoid form
Musk’s statement was shared in a post on social media platform X.
Elon Musk predicted that Tesla could become one of the developers of Artificial General Intelligence (AGI) in humanoid form. Musk’s statement was shared in a post on social media platform X.
In his post, Musk stated that “Tesla will be one of the companies to make AGI and probably the first to make it in humanoid/atom-shaping form.”
The comment comes as Tesla expands development of its Optimus humanoid robot.
During Tesla’s Q4 earnings report, Elon Musk stated that production of the Model S and Model X would be phased out at its Fremont, California, facility. The vehicles’ production line will then be converted to a pilot line for Optimus. Tesla is looking to produce 1 million units of the humanoid robots annually to start.
Musk has previously stated that Optimus could eventually function as a von Neumann probe. The concept, proposed by mathematician John von Neumann, describes a machine capable of replicating itself using planetary resources and sending those replicas to other worlds.
Optimus would likely only be able to achieve this potential if it manages to achieve Artificial General Intelligence.
Other leaders in the AI sector have also expressed strong expectations about AGI’s potential. Demis Hassabis, CEO of Google DeepMind, recently spoke about the technology at the India AI Impact Summit 2026, as noted in a Benzinga report.
“It’s going to be something like ten times the impact of the Industrial Revolution, but happening at ten times the speed,” Hassabis said.
Elon Musk’s recent comments about Tesla producing a product with AGI could hint at further collaboration among his companies. So far, Tesla is actively pursuing autonomous driving, but it is xAI that is pursuing AGI with its Grok program.
Considering that Elon Musk mentioned a Tesla humanoid product with AGI, it appears that an Optimus robot running xAI’s AI models could become a reality.
xAI had recently merged with SpaceX, though reports suggest that Elon Musk is also considering an even bigger merger for all his companies, including Tesla.
Tesla gets tip of the hat from major Wall Street firm on self-driving prowess
Tesla to discuss expansion of Samsung AI6 production plans: report
