For some time, Tesla owner Elon Musk flirted with the idea of moving his company from Los Angeles to the state of Texas. Now, more than a year after doing so, the company has registered to expand its Austin factory.
According to paperwork filed with the Texas Department of Licensing and Registration in January, the electric vehicle manufacturer is planning on spending as much as $770 million on expanding its facilities at its current location, the Austin Business Journal reported.
Among the expansion would include space for battery cell testing and manufacturing, cathode and drive unit manufacturing, a die shop, and several other things.
Tesla relocated its headquarters to Texas at the end of 2021, and in April 2022, it opened its Texas electric vehicle and battery factory.
At the factory, the company manufactures its Model Y crossover utility vehicles. It also has plans to mass-manufacture the Cybertruck there.
Musk has done nothing but make headlines throughout the last year, whether it be for his political statements, his efforts in space, his long acquisition of Twitter, or the selling of his Tesla shares.
Most recently, Musk broke records after The Guinness Book of World Records awarded him the worst loss of a fortune in history due to his net worth falling by $182 billion last year.
Part of the reason for the decline in his fortune is the decline of Tesla shares, which lost roughly 65% of their value, marking the company's worst year ever.
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