US automaker Tesla plans to spend $717 million to build additional facilities at its Texas plant. MarketWatch writes about this with reference to documents sent by the company to the state regulator.
Tesla expects to increase the factory area by 130,000 square meters, after which the total size of the enterprise will reach 520,000 square meters. In particular, a new battery testing laboratory will be built. It is also planned to expand the area of industrial premises.
Work can begin as early as January and be completed by February 2024.
Tesla shares fell 0.2% in additional trading on Tuesday. Over the past 12 months, the company’s capitalization has fallen by 68%, to $378 billion.