Tesla is seeking to have its Giga Texas production facility recognized as a foreign trade zone for tax reasons. If approved by Travis County, Texas commissioners and the Federal Trade Zones Board, Tesla will save $270,000 per year in all jurisdictions.
The request from Tesla was discussed during a February 23rd meeting with the Travis County Commission, who supported the effort by approving a non-objection letter with the automaker’s application. Ultimately, the vote of support from local authorities bodes well for Tesla, who plans to begin production at the new Texas facility later this year.
According to the International Trade Administration website, the advantages of being designated as a foreign trade zone include duty exemptions that will eliminate charges on re-exports, duty deferral where federal excise taxes are deferred on imports, and logistical benefits, among others.
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Tesla is set to save money if Giga Texas is ultimately designated as a Foreign Trade Zone.
The Austin Business Journal writes:
“Through the program, imported inventory and inventory held for export in the foreign trade zone would be exempt from ad valorem tax. The designation could save Tesla $270,000 a year across all taxing jurisdictions, including $53,000 on Travis County taxes, according to county documents.”
Tesla CEO Elon Musk announced that the automaker’s newest facility within the United States would be located in Austin during the Q2 2020 Earnings Call. After beating out Tulsa, Oklahoma, Austin became the place where many of Tesla’s executives, Musk included, move. However, contrary to popular belief, the company’s headquarters still remain in Palo Alto, California, with its main production facility still operating in Fremont, California.
Tesla plans to open several new production facilities this year. Along with the Texas plant, Tesla will also begin production at its first European Gigafactory, known as Giga Berlin, later this year. The company also has intentions of beginning operations in India, as documents released early in 2021 showed the company had applied for several business licenses in the country. These were approved, and Tesla is making preliminary steps to get things in motion.
Giga Texas will be responsible for the production of the Tesla Cybertruck, along with Model 3 and Model Y production at for customers located in the Eastern half of North America. The plant is expected to create around 15,000 new jobs in Austin and the surrounding areas, providing a stable employment for those affected by the COVID-19 pandemic.
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SpaceX reportedly mulling IPO, eyeing largest of all time: report
“I do want to try to figure out some way for Tesla shareholders to participate in SpaceX. I’ve been giving a lot of thought to how to give people access to SpaceX stock,” Musk said.
SpaceX is reportedly mulling an initial public offering, eyeing what would be the largest valuation at the time of availability of all time, a new report from Bloomberg said on Tuesday.
It is one of many reports involving one of Elon Musk’s companies and a massive market move, as this is not the first time we have seen reports of an IPO by SpaceX. Musk himself has also dispelled other reports in the past of a similar nature, including an xAI funding round.
SpaceX and Musk have yet to comment on the report. In the past, untrue reports were promptly replied to by the CEO; this has not yet gained any response, which is a good sign in terms of credibility.
Musk has discussed a potential IPO for SpaceX in recent months, as the November 6 shareholder meeting, as he commented on the “downsides” of having a public company, like litigation exposure, quarterly reporting pressures, and other inconveniences.
Nevertheless, Musk has also said he wants there to be a way for Tesla shareholders to get in on the action. At the meeting in early November, he said:
“I do want to try to figure out some way for Tesla shareholders to participate in SpaceX. I’ve been giving a lot of thought to how to give people access to SpaceX stock.”
Additionally, he added:
“Maybe at some point., SpaceX should become a public company despite all the downsides of being public.”
Musk has been historically reluctant to take SpaceX public, at times stating it could become a barrier to colonizing Mars. That does not mean it will not happen.
Bloomberg’s report cites multiple unidentified sources who are familiar with the matter. They indicate to the publication that SpaceX wants to go public in mid-to-late 2026, and it wants to raise $30 billion at a valuation of around $1.5 trillion.
This is not the first time SpaceX has discussed an IPO; we reported on it nine years ago. We hope it is true, as the community has spoken for a long time about having access to SpaceX stock. Legendary investor Ron Baron is one of the lucky few to be a SpaceX investor, and said it, along with Tesla, is a “lifetime investment.”
Tesla bull Ron Baron reveals $100M SpaceX investment, sees 3-5x return on TSLA
The primary driver of SpaceX’s value is Starlink, the company’s satellite internet service. Starlink contributes 60-70 percent of SpaceX’s revenue, meaning it is the primary value engine. Launch services, like Falcon 9 contracts, and the development of Starship, also play supporting roles.
SpaceX reached an incredible milestone with its Starlink program with a launch last night, as the 3,000th satellite of the year was launched into low Earth orbit.
On Monday, SpaceX also achieved its 32nd flight with a single Falcon 9 rocket from NASA’s Kennedy Space Center.
The mission was Starlink 6-92, and it utilized the Falcon 9 B1067 for the 32nd time this year, the most-used Falcon booster. The flight delivered SpaceX’s 3000th Starlink satellite of the year, a massive achievement.
There were 29 Starlink satellites launched and deployed into LEO during this particular mission:
Falcon 9 launches 29 @Starlink satellites from Florida pic.twitter.com/utKrXjHzPN
— SpaceX (@SpaceX) December 9, 2025
SpaceX has a current goal of certifying its Falcon boosters for 40 missions apiece, according to Spaceflight Now.
The flight was the 350th orbital launch from the nearby SLC-40, and the 3,000 satellites that have been successfully launched this year continue to contribute to the company’s goal of having 12,000 satellites contributing to global internet coverage.
There are over five million users of Starlink, the latest data shows.
Following the launch and stage separation, the Falcon 9 booster completed its mission with a perfect landing on the ‘Just Read the Instructions’ droneship.
The mission was the 575th overall Falcon 9 launch, highlighting SpaceX’s operational tempo, which continues to be accelerated. The company averages two missions per week, and underscores CEO Elon Musk’s vision of a multi-planetary future, where reliable connectivity is crucial for remote work, education, and emergency response.
As Starlink expands and works toward that elusive and crucial 12,000 satellite goal, missions like 6-92 pave the way for innovations in telecommunications and enable more internet access to people across the globe.
With regulatory approvals in over 100 countries and millions of current subscribers, SpaceX continues to democratize space, proving that reusability is not just feasible, but it’s also revolutionary.
Tesla expanded its new Full Self-Driving program, which gives people the opportunity to experience the company’s suite, in Europe.
Tesla recently launched an opportunity for Europeans to experience Full Self-Driving, not in their personal vehicles, but through a new ride-along program that initially launched in Italy, France, and Germany back in late November.
People could experience it by booking a reservation with a local Tesla showroom, but timeslots quickly filled up, making it difficult to keep up with demand. Tesla expanded the program and offered some additional times, but it also had its sights set on getting the program out to new markets.
It finally achieved that on December 9, as it launched rides in Denmark and Switzerland, adding the fourth and fifth countries to the program.
Tesla confirmed the arrival of the program to Denmark and Switzerland on X:
Now available in Denmark & Switzerland
🇩🇰 https://t.co/IpCSwHO566 https://t.co/V2N5EarLNX
— Tesla Europe & Middle East (@teslaeurope) December 9, 2025
The program, while a major contributor to Tesla’s butts in seats strategy, is truly another way for the company to leverage its fans in an effort to work through the regulatory hurdles it is facing in Europe.
Tesla has faced significant red tape in the region, and although it has tested the FSD suite and been able to launch this ride-along program, it is still having some tremendous issues convincing regulatory agencies to allow it to give it to customers.
CEO Elon Musk has worked with regulators, but admitted the process has been “insanely painful.”
The most recent development with FSD and its potential use in Europe dealt with the Dutch approval authority, known as the RDW.
Tesla says Europe could finally get FSD in 2026, and Dutch regulator RDW is key
Tesla said it believes some regulations are “outdated and rules-based,” which makes the suite ineligible for use in the European jurisdiction.
The RDW is working with Tesla to gain approval sometime early next year, but there are no guarantees. However, Tesla’s angle with the ride-along program seems to be that if it can push consumers to experience it and have a positive time, it should be easier for it to gain its footing across Europe with regulatory agencies.
SpaceX reportedly mulling IPO, eyeing largest of all time: report
SpaceX reaches incredible milestone with Starlink program
