Tesla to build $10B solar panel factory in Texas
What's the story
Tesla is planning to set up a massive solar panel factory in Texas. The facility, called Project Crystal Sun, will be located 45 minutes southwest of Houston. According to documents filed with the state of Texas, the project could cost as much as $10.1 billion. Tesla has applied for tax incentives to help offset some of these costs and is also looking at other potential locations across multiple US states.
Job creation
Factory to create 9,700 full-time jobs
The proposed solar panel factory is expected to create around 9,700 full-time jobs.
Without any tax incentives, Tesla's accountants have estimated that the property tax liability for this project would be approximately $1.1 billion over a period of 37 years.
The company plans to start construction this year and finish it by 2028, with the first solar panels expected to roll off the production line in 2029.
Production details