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Tesla Gigafactory Texas construction plans revealed in permit documents

Tesla Gigafactory Texas Construction Update - 9/16/2020 (Credit: Joe Tegtmeyer/YouTuber

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Tesla’s construction plans for its newest Gigafactory in Texas were recently revealed on the City of Austin’s official website. In documents filed during the permit process, the shape of the factory itself and specific locations for several landscape features were confirmed. This new information provides a solid basis for comparison to track the step-by-step building process of the future Cybertruck and Semi factory location.

Tesla owner and enthusiast Joe Tegtmeyer has been publishing drone footage of Giga Texas progress updates on his YouTube channel since the first construction vehicles entered the site, and these latest permit images and annotations come courtesy of those efforts. In a video uploaded on September 15th, Tegtmeyer added overlays to drone footage to help viewers identify the features indicated in Tesla’s permit documents. Of particular note were the outlines of the Gigafactory foundation on the site, two switchyards (one temporary), and several water retention ponds to control rainfall that’s typical for the Austin area.

In the flyover update itself, Gigafactory construction does appear to continue its fast-paced progress as expected. A new clearing revealed an old house that will most likely be demolished, and as Tegtmeyer detailed in the video’s notes, it looks as though GeoPier work is being done in the northern part of the site. Efforts to fill in and level where the main factory foundation will go were also underway in the central parts of that area, and construction activity looked to be still drying and filling out the northwestern corner of the main building region where the building’s shape isn’t quite complete.

In related news, Tesla presented a rough time frame for the upcoming Cybertruck and Semi factory location in its “Travis County Colorado River Project Partner Pre‐Qualification Presentation,” which is another document recently published on the City of Austin’s official page. Giga Texas estimates a first “dry-in” by December 30th of this year, and a first “substantial completion” is scheduled for May 2021. If completed as planned, this ambitious schedule will be an amazing feat for such a mammoth-sized construction project. Given that work is being done nearly 24/7 and without much regard for weather, the efforts are the very least well-directed.

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The Tesla Semi and Cybertruck are not the only vehicles expected to be produced at the electric car manufacturer’s Gigafactory Texas complex. During this year’s second-quarter earnings call, CEO Elon Musk stated that the upcoming facility would also be producing the Model 3 sedan and its sibling, the Model Y crossover. Musk additionally detailed that vehicles produced in Texas would be slotted for customers residing in the eastern United States.

Tesla’s newest Gigafactory in Texas also has the potential to house the company’s next-generation vehicle production systems, given the technology developments in play for the Semi and Cybertruck. For example, the electric pickup will not have a stamping area due to the vehicle’s use of steel and XY design, so a unique production line is expected there. Additionally, the Model Y line will likely utilize the company’s “Giga Press,” a huge machine that could give the all-electric crossover a rear body comprised of a single piece.

You can watch Joe Tegtmeyer’s full September 15th Giga Texas update below:

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Accidental computer geek, fascinated by most history and the multiplanetary future on its way. Quite keen on the democratization of space. | It's pronounced day-sha, but I answer to almost any variation thereof.

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Elon Musk

SpaceX considering confidential IPO filing this March: report

The filing could pave the way for a June listing at a valuation that may exceed $1.75 trillion.

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Credit: SpaceX/X

SpaceX is reportedly preparing to confidentially file for an initial public offering (IPO) as soon as March. The filing could pave the way for a June listing at a valuation that may exceed $1.75 trillion, potentially making it the largest IPO in history.

The update was initially reported by Bloomberg News, which cited information shared by people reportedly familiar with the matter. 

As per the publication, a confidential filing allows a company to receive regulatory feedback before publicly releasing its financials. Bloomberg’s source, however, noted that the timing of SpaceX’s IPO is still under discussion and plans could change.

SpaceX did not immediately respond to requests for comment.

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A March submission would mark the clearest step yet toward bringing Elon Musk’s private space company into public markets. People familiar with the preparations said the offering could raise as much as $50 billion. That would surpass the $29 billion debut of Saudi Aramco in 2019, currently the largest IPO on record.

Major banks including Goldman Sachs Group Inc., JPMorgan Chase & Co., Morgan Stanley, and Bank of America Corp. are reportedly positioned for senior roles in the transaction. SpaceX is also said to be considering a dual-class structure that would allow insiders, including Musk, to retain enhanced voting control.

Satellite communications provider EchoStar Corp., which holds a stake in SpaceX, reportedly saw its shares rise following news of the potential filing.

At a valuation exceeding $1.75 trillion, SpaceX would immediately have a larger market cap than all but five of the companies traded in the S&P 500 index. That figure would place it ahead of Meta Platforms Inc. and Tesla Inc. by market capitalization, trailing only a small group of mega-cap firms such as Apple Inc. and Microsoft Corp.

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The scale of the proposed valuation reflects SpaceX’s dominance in orbital launch services and its Starlink satellite network, which serves millions of users globally. The company has also outlined long-term expansion plans tied to higher Starship launch cadence, orbital infrastructure, and lunar development initiatives.

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Elon Musk

Elon Musk hints Tesla investors will be rewarded heavily

“Hold onto your Tesla stock. It’s going to be worth a lot, I think. That’s my bet,” Musk said.

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Credit: Grok

Elon Musk recently hinted that he believes Tesla investors will be rewarded heavily if they continue to hold onto their shares, and he reiterated that in a new interview that the company released on its social accounts this week.

Musk is one of the most successful CEOs in the modern era and has mammothed competitors on the Forbes Net Worth List over the past year as his holdings in his various companies have continued to swell.

Tesla investors, especially those who have been holding shares for several years, have also felt substantial gains in their portfolios. Over the past five years, the stock is up over 78 percent. Since February 2019, nearly seven years ago to the day, the stock is up over 1,800 percent.

Musk said in the interview:

“Hold onto your Tesla stock. It’s going to be worth a lot, I think. That’s my bet.”

It’s no secret Musk has been extremely bullish on his own companies, but Tesla in particular, because it is publicly traded.

However, the company has so many amazing projects that have an opportunity to revolutionize their respective industries. There is certainly a path to major growth on Wall Street for Tesla through its various future projects, including Optimus, Cybercab, Semi, and Unsupervised FSD.

  • Optimus (Tesla’s humanoid robot): Musk has discussed its potential for tasks like childcare, walking dogs, or assisting elderly parents, positioning it as a massive long-term driver of company value.
  • Cybercab (Tesla’s robotaxi/autonomous ride-hailing vehicle): a fully autonomous vehicle geared specifically for Tesla’s ride-sharing ambitions.
  • Semi (Tesla’s electric truck, with mentions of expansion, like in Europe): brings Tesla into the commercial logistics sector.
  • Unsupervised FSD (Full Self-Driving software achieving full autonomy without human supervision): turns every Tesla owner’s vehicle into a fully-autonomous vehicle upon release

These projects specifically are some of the highest-growth pillars Tesla has ever attempted to develop, especially in Musk’s eyes, as he has said Optimus will be the best-selling product of all-time.

Many analysts agree, but the bullish ones, like Cathie Wood of ARK Invest, are perhaps the one who believes Tesla has incredible potential on Wall Street, predicting a $2,600 price target for 2030, but this is not even including Optimus.

She told Bloomberg last March that she believes that the project will present a potential additive if Tesla can scale faster than anticipated.

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Cybertruck

Tesla drops latest hint that new Cybertruck trim is selling like hotcakes

According to Tesla’s Online Design Studio, the new All-Wheel-Drive Cybertruck will now be delivered in April 2027. Earlier orders are still slated for early this Summer, but orders from here on forward are now officially pushed into next year:

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(Credit: Tesla)

Tesla’s new Cybertruck offering has had its delivery date pushed back once again. This is now the second time, and deliveries for the newest orders are now pushed well into 2027.

According to Tesla’s Online Design Studio, the new All-Wheel-Drive Cybertruck will now be delivered in April 2027. Earlier orders are still slated for early this Summer, but orders from here on forward are now officially pushed into next year:

Just three days ago, the initial delivery date of June 2026 was pushed back to early Fall, and now, that date has officially moved to April 2027.

The fact that Tesla has had to push back deliveries once again proves one of two things: either Tesla has slow production plans for the new Cybertruck trim, or demand is off the charts.

Judging by how Tesla is already planning to raise the price based on demand in just a few days, it seems like the company knows it is giving a tremendous deal on this spec of Cybertruck, and units are moving quickly.

That points more toward demand and not necessarily to slower production plans, but it is not confirmed.

Tesla Cybertruck’s newest trim will undergo massive change in ten days, Musk says

Tesla is set to hike the price on March 1, so tomorrow will be the final day to grab the new Cybertruck trim for just $59,990.

It features:

  • Dual Motor AWD w/ est. 325 mi of range
  • Powered tonneau cover
  • Bed outlets (2x 120V + 1x 240V) & Powershare capability
  • Coil springs w/ adaptive damping
  • Heated first-row seats w/ textile material that is easy to clean
  • Steer-by-wire & Four Wheel Steering
  • 6’ x 4’ composite bed
  • Towing capacity of up to 7,500 lbs
  • Powered frunk

Interestingly, the price offering is fairly close to what Tesla unveiled back in late 2019.

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