Tesla’s Texas factory extension likely a topic at EV maker’s investor day

Tesla Inc.
TSLA,
+2.99%
is likely to detail its planned expansion of the Austin, Texas factory at its investor day on March 1, analyst Emmanuel Rosner with Deutsche Bank said in a note Wednesday. Tesla plans to invest $776 million in expanding the Texas “gigafactory,” where the Cybertruck, Tesla’s electric pickup truck, is slated to be made. It is likely that the expansion would also lead Tesla to make a new vehicle model at the factory, and use the additional space for battery production cell and increase vertical integration, the analyst said. According to plans filed with the state, Tesla intends to add five new facilities on site, including a cell test lab and other units for cathodes, cells, and drive units based on the building names in the application, Rosner said. “We expect to learn more details at the company investor day on March 1st,” he said. Production of the Cybertruck is slated to begin mid-year.