News
Tesla Gigafactory 3 is what happens when Elon Musk’s vision is taken seriously
To say that the buildout of Tesla’s Gigafactory 3 in China is fast is a gross understatement. Within a few months, Tesla’s 864,885-square meter lot in Shanghai’s Lingang Industrial Area has been transformed from a large, muddy field into a site where a massive electric car factory is taking shape. Every update of Gigafactory 3 shows the facility making visible progress. This week alone, footage from the site revealed that workers have practically completed the roof of Tesla’s general assembly building, and walls are already being set built.
Back in March, Shanghai official Chen Mingbo stated that the initial buildout of the factory should be completed by May. Considering the speed of the facility’s construction, this insane timeframe seems to be on track. If this target is accomplished, Tesla could start Model 3 trial production as early as September. That’s significantly ahead of Elon Musk’s own estimates, which pointed to initial production starting near the end of 2019. Reports from China also indicate that Gigafactory 3 could set a record for fastest factory buildout in the country.
The original timeline for Gigafactory 3 was actually far more conservative, with Tesla noting that it expected vehicle manufacturing to start roughly two years after construction begins. The timeframe, which was classic Elon Musk in the way that it is optimistic and ambitious, faced relentless skepticism in the United States. Consumer Edge Research senior auto analyst James Albertine, in a segment of Bloomberg Markets, flat-out stated that Tesla’s targets for Gigafactory 3’s construction were simply “not feasible.”
The reaction to Gigafactory 3’s initial timetable is quite reflective of the amount of skepticism and criticism thrown at Tesla and Elon Musk on a rather consistent basis. In the United States, Musk pretty much faces opposition at every turn. It is not uncommon to see reports about Tesla having a negative slant. People betting on Tesla’s failure such as short-sellers consistently accuse Musk of being a fraud as well, while mocking him on social media platforms such as Twitter for his alleged shortcomings. One particularly passionate short-seller actually received a restraining order after allegedly trespassing, harassing, and causing harm to Tesla employees.
With the drama surrounding Tesla, it is no wonder that Elon Musk wanted to take the company private last year. When Musk pitched the idea to investors, he argued that it would be a lot easier for Tesla to pursue its goals if it could operate without the short-term pressures of Wall St and the constant barrage of noise from critics that stand to receive financial gain if the electric car maker were to fall. The take-private attempt ultimately fell through after Elon Musk backed out of a ~$30 billion deal from investors that included Volkswagen AG. In the Q1 2019 earnings call, the CEO noted that a non-public Tesla will not be happening anytime soon. “Unfortunately, that ship had sailed,” Musk said.
It could be said that the nearly unbelievable pace of Gigafactory 3’s construction is what happens when Elon Musk’s ambitious vision is embraced without noise or unnecessary drama. There were no controversies among China’s workforce when Elon Musk noted that he expects electric car production to begin by the end of the year. Instead, the company’s construction partner took the CEO’s ambitious timeframe seriously and did what was necessary to build Gigafactory 3 as quickly as possible, including adopting 24/7 work. Going a step further, the country even pursued a target completion date that exceeds Elon Musk’s already ambitious timeframe. Today, Model 3 trial production is expected to start as early as September.
If there is a lesson that can be learned from Gigafactory 3, it is that visionaries such as Elon Musk could accomplish great things if their targets are supported and taken seriously. This is something that China seems to be all too willing to give Elon Musk, as could be seen when he met with Chinese Premier Li Keqiang in Beijing last January. During his meeting with Li, Musk acted like his usual self, throwing out grand ideas about Gigafactory 3 and mentioning his vision of creating a facility that acts almost like a “living being.” Li proved quite open to Musk’s ideas, even offering the CEO a ‘Chinese Green Card’ so he could openly pursue his plans in the country.
-
Demonstrating this point, here’s the Gigafactory 3 site in early March.
And here’s a flyby of Gigafactory 3 on May 7, 2019, roughly two months later.
Elon Musk
The Boring Company’s newest tunnel vehicle runs on Tesla parts and no one is driving it
The Boring Company’s new tunnel vehicle runs on Tesla Model 3 batteries and drive units.
The Boring Company just introduced a new piece of hardware, and it runs on parts pulled straight from a Tesla showroom. Liner Truck 3, unveiled in a post from the tunneling company’s official X account, is an all electric vehicle built around Tesla Model 3 battery packs and drive units, purpose built to move concrete tunnel segments to the boring machine face without a single person underground.
Introducing Liner Truck 3 — our latest fully electric tunnel vehicle.
– Tesla Model 3 battery and drive units
– Transports 22,000+ lb of concrete segments to the boring machine
– 28 miles of range
– 12 mph max operating speed
– Remotely piloted from Global OCC in Texas, with… pic.twitter.com/XB7FgSXnpy— The Boring Company (@boringcompany) August 7, 2026
The job itself is unglamorous but critical. Each precast segment run weighs more than 22,000 pounds, roughly the load of a full cement mixer, and Liner Truck 3 hauls that weight repeatedly between the surface staging area and wherever the Prufrock machine happens to be cutting.
The Boring Company said Liner Truck 3 is piloted remotely out of its Global Operations Control Center in Texas, extending the Zero-People-In-Tunnel approach the company has spent years building toward. An earlier version of a ZPIT liner truck was already tested at the company’s Bastrop, Texas research tunnels, and a factory tour released last month showed an employee flying a fully loaded liner truck with a PlayStation controller. Liner Truck 3 looks like the production version of that same idea, cleaned up and pushed into daily use.
The timing lines up with a company digging in more places than it ever has before. The Boring Company now has multiple Prufrock machines active or arriving in Nashville, where Music City Loop construction has been accelerating since February, and its Vegas Loop network keeps adding tunnel mileage on a near monthly basis. Every one of those projects depends on getting concrete segments to the cutting face fast enough to keep the boring machine from idling, which is exactly the bottleneck Liner Truck 3 is designed to remove.
It also reinforces something Tesla owners have watched happen gradually across Musk’s companies: passenger car hardware finding a second life in heavy equipment. Model 3 drive units already move people through the Vegas Loop, and now the same components are hauling concrete underground in Nashville and wherever The Boring Company digs next. Whether that kind of component reuse extends further into TBC’s equipment lineup, or into other Musk owned industrial hardware, is the next thing worth watching.
SpaceX stock did the opposite of what most of Wall Street expected this week, when the day designed to be its most dangerous turned into a rally, and the rally kept going.
Thursday marked the first major lockup expiration since SpaceX’s June IPO, making roughly 911.5 million insider held shares eligible to trade for the first time, more than doubling the company’s public float. Analysts and short sellers had spent weeks bracing for a flood of selling, especially after the stock fell 13 percent following its first earnings report as a public company on Tuesday. Instead, shares rose 6.1 percent Thursday to close at $114.92, and by Friday they were trading near $129, up more than another 12 percent on the day.
SpaceX shorts get warned by Musk ally, echoing Tesla’s early struggles
The setup made the outcome notable. Short interest had climbed to roughly 34 percent of the float heading into earnings, among the highest of any large cap stock, with about 95 percent of available shares to borrow already on loan. CEO Elon Musk warned short sellers twice in the weeks before the lockup, writing on X that “the survival probability of firms who maintain a significant short position in SpaceX over time is very low,” then following up on the morning of earnings with “I try to warn them, but they just double down.”
When the newly unlocked shares hit the market and the selloff never showed up, some of that short position appears to have started unwinding. TipRanks reported that options activity shifted toward bullish strategies like put selling and risk reversals following the rally, with roughly $600 million in options premium trading Thursday alone. Retail buyers also stepped in during the earnings dip, according to Vanda Research.
The fundamentals behind the stock have not changed much in a week. SpaceX’s revenue nearly doubled year over year to $7.8 billion, with Starlink subscribers doubling to 12 million and the company’s AI segment growing 247 percent. What spooked investors on Tuesday was the spending side. Capital expenditures jumped to more than $18 billion for the quarter, up from $2.8 billion a year earlier, with AI investment alone rising from $749 million to $15.8 billion. Wall Street remains split on whether that spending is building infrastructure SpaceX needs or outrunning what the business can currently support, a debate Teslarati has tracked since shares first came under pressure.
None of that resolves the bigger question hanging over the stock. Thursday’s release was only the first of nine staggered lockup tranches, with roughly $800 billion worth of additional shares scheduled to become eligible through October, and Musk’s own stake stays locked until next June. If this week is any indication, the market is treating that supply as something it can absorb rather than something to fear, at least for now.
News
The Boring Company’s newest Vegas Station has a permit quietly waiting behind it
Sahara Las Vegas opened a new Vegas Loop station, joining an exclusive two resort transit club.
Sahara Las Vegas opened a new Vegas Loop station Thursday, giving The Boring Company’s underground transit system its northernmost stop yet on the Strip. The station sits at Sahara’s Paradise Road entrance, on the southeast corner of Las Vegas Boulevard and Sahara Avenue, and connects riders to the Las Vegas Convention Center, other Strip resorts on the network and, eventually, Harry Reid International Airport.
The addition makes Sahara the second resort, after Fontainebleau opened its own station in January, to get a stop built at street level rather than tucked into the property itself. Sahara now joins Westgate as the only two Strip resorts offering both a Vegas Loop station and a stop on the Las Vegas Monorail, giving guests two separate ways to get around without leaving the property.
The Boring Company just doubled its tunneling power in Nashville
The bigger news buried in Thursday’s announcement is what comes next. Boring Company has already secured its first permit to tunnel north of Sahara Avenue, extending the network beyond where it currently ends, even though permits to push the Loop toward downtown Las Vegas still haven’t been granted. Crews are also working on a two mile dual tunnel line running from Westgate to a planned station at 4744 Paradise Road, just north of Tropicana Avenue, that Las Vegas Convention and Visitors Authority CEO Steve Hill has said the company hopes to open in time for November’s Las Vegas Grand Prix.
Ridership has grown alongside the buildout. The Loop moved roughly 82,000 passengers during CONEXPO in early March, a total the company highlighted on its own X account at the time, and the system has now carried more than 4 million passengers through 11 open stations since it began running in 2021. The airport connector tunnels, meant to give the Loop a direct link to Harry Reid, have slipped past their original first quarter target and remain under construction, with Boring Company director Mike Baier saying that a full opening is still a few months out.
For Sahara, the calculation is straightforward. Convention traffic drives a large share of Loop ridership, and a station at the property’s front door gives conventiongoers one more reason to book rooms on the Strip’s north end instead of closer to the convention center itself.
The Boring Company’s newest tunnel vehicle runs on Tesla parts and no one is driving it
Elon Musk and SpaceX shrugs off the trading day Wall Street feared most
