Elon Musk Says Tesla Will Host A 'Grand Opening Party' For Giga Texas

Tesla Inc TSLA CEO Elon Musk said on Sunday the electric carmaker will hold a “grand opening party” for the soon-to-be-completed Giga Texas in early 2022.

What Happened: The billionaire entrepreneur noticed a Twitter post that shared recent photographs of the Giga Texas site with a portion that was still under construction and also sought an update on the project. 

Tesla will hold a Giga Texas grand opening party with factory tours for the community in early 2022

— Elon Musk (@elonmusk) December 19, 2021

Musk replied about the opening party but provided no definite timeline, adding that the grand event would involve taking the community on factory tours.

Giga Texas Photos: The tweet, posted by a user who goes by the handle “GailAlfarATX," shared four photographs from outside the site.

The first photograph showed the Tesla road exit leading to the Giga Texas site. 

The next two photographs focused on an aerial view of the nearly completed Giga Texas site and the massive parking space around it. The last shot shows scaffolding work going on at one of the walls. 

See Also: Tesla Estimates $1B Costs In Giga Texas Construction, Targets Year-End Completion

Why It Matters: The development comes just days after Musk said Giga Texas would, over time, draw $10 billion in investments and generate at least 20,000 direct jobs once it starts operations. 

Tesla is rushing to wrap up construction at Giga Texas by Dec. 31 and get the manufacturing facility up and running in the initial phase. 

The electric vehicle maker has spent about $1.06 billion in the facility spread over 2,481 acres.

Giga Texas is key to Tesla’s growth plans as it is expected to more-than-double capacity when fully operational. Tesla can currently make 500,000 electric vehicles a year at its Fremont factory in California.

See Also: Elon Musk Says This Is How Much Tesla Expects To Spend On Giga Texas Over Time

Tesla aims to build the Cybertruck and the Semi at the Giga Texas. It would also make the Model 3 and Model Y electric cars at the site.

Musk, in October, at the company’s annual shareholder meeting said Tesla is moving its headquarters to Austin, Texas.

The Tesla CEO hosted thousands of locals at the company's Germany factory in an Oktoberfest-style event two months ago. As many as 9,000 locals attended the event at a small town in Gruenheide.

Price Action: Tesla shares closed 0.61% higher at $932.57 a share on Friday.