Tesla (TSLA) Buying More Land In Austin, Texas, Says Report

By Noah Long ● September 28, 2020
  • According to a new report, Tesla is planning to buy additional land in Texas.

Back in July, Tesla Inc (NASDAQ: TSLA) revealed it received approval from the local government in Texas to set up a Gigafactory in an area outside of Austin. The 2,000-acre land will be the location of Tesla’s largest property and enables opportunities for further expansion as well. According to a new report, Tesla is planning to buy additional land in Texas.

According to Statesman via Electrek, Tesla also bought another 381-acre area of land near the current Gigafactory construction location.

“Continuing at full speed with development of its electric vehicle assembly plant in southeastern Travis County, Tesla recently purchased 381 acres adjacent to its existing 2,100-acre site at Harold Green Road and Texas 130, deed records show,” says Statesman in its report.

By purchasing this additional land, Tesla would also be able to set up more points of access to the future Gigafactory. And Tesla is also reportedly looking for more land areas that are close in proximity. The Statesman’s sources said that Tesla is pursuing additional land purchases in Southeast Austin along the Texas 130 corridor.

Along with being a location for producing electric vehicle components, Tesla CEO Elon Musk envisioned the site as being a tourist attraction that will be open to the public as it would be an “ecological paradise” with a boardwalk, biking paths, and hiking trails.