Washington (GGM) Analysis | July 23, 2020 by Sarah J. Kings
In March of 2020, Tesla CEO, Elon Musk, announced the search for the perfect location for his newest factory. Not unlike Prince Charming’s country-wide invitation to the castle ball in Cinderella, people far and wide waited in anticipation over Musk’s Choice. July 22nd, a statement was released, saying that the new facility will be built in Austin, Texas.
Unlike other car companies, Tesla far outperformed in earnings despite the global pandemic, reporting four consecutive profitable quarters. This boost for Tesla means a boost for the economy and a major boost for the planet.
Musk announced that the Cybertruck factory will be open to the public. With walking trails, bike paths, a boardwalk, and fish-filled streams, he described the park-like facility as an “ecological paradise.” This new destination will surely bring tourism dollars, but the real economic growth will come from the 5,000 new jobs needed at the site.
The economic buzz surrounding Musk’s latest venture is exciting, but the real news lies in the cars! Tesla promises that from the facility will come four new vehicles, the long-awaited Cyber Truck, the Tesla Semi, the Model Y, and the Model 3. The addition of these new EVs, along with Tesla’s unexpected boost in earnings, means more electric vehicles on the road. Considering the fact that every gallon of gasoline burned creates about 8,887 grams of CO2, this is very big news for Mother Nature!
- On July 22nd, 2020, Elon Musk announced that the new Tesla factory will be built in Austin, Texas
- Tesla far outperformed in earnings, reporting four consecutive profitable quarters
- The facility will be a park-like destination boasting walking trails, bike paths, a boardwalk, and fish-filled streams
- The new Tesla factory will create at least 5,000 new jobs
- The facility will produce a Cyber Truck, the Tesla Semi, the Model Y, and the Model 3
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