Musk says new Texas Gigafactory is a US$10B+ investment over time

The EV automaker's factory will also reportedly generate over 20K direct and 100K indirect jobs in the region

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Tesla Technoking Elon Musk said on Thursday that the EV maker’s news car plant in Austin, Texas would involve an investment of more than US$10 billion over time.

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According to a public filing that was revealed this past month, the company is reportedly planning to spend some US$1 billion on the factory with the intention of completing its construction by the end of the year.

Musk tweeted this out on Thursday where he said that the “Giga Texas is a US$10B+ investment over time, generating at least 20K direct and 100K indirect jobs.”

Request for details of the tweet didn’t get an immediate response from the EV automaker.

The initial sentiment was that the factory would create nearly 10K jobs.

Another thing is that the EV automaker is expected to receive about US$65 million in local tax rebates for the plant which is located close to the airport on the eastern outskirts of Austin, the report says.

Earlier this month, Tesla said it had moved its headquarters to Austin from California.

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