Tesla continued to rebound from last week's tech-heavy sell-off amid reports that the electric vehicle manufacturer is making progress at its Gigafactory locations in Texas and Germany.
In a presentation to Travis County officials, Tesla said its Gigafactory based in Austin will reach "first substantial completion" on May 1, 2021. It's expected Tesla would be able to use the facility for some form of production on that date.
Another construction milestone Tesla reported to the Texas county is the "first dry-in" date of December 30, 2020. "Dry-in" refers to the Gigafactory being completed to the point where it can withstand the elements and work can transition to inside the factory.
Tesla plans to build an array of car models at the Austin-based factory, including the Cybertruck, the Model Y, and the Semi truck. Tesla electric vehicles rolling off the production line in Austin will help supply East Coast demand for them.
And in Germany, WirtschaftsWoche reported that Tesla plans to buy an additional 30 acres near its Berlin Gigafactory. The land is expected to be used for logistic purposes, according to the report.
The Berlin Gigafactory will produce the Model Y and serve as an engineering hub for future advancements to Tesla's auto line-up. Construction of the factory is expected to be completed in March 2021, with the first Model Y expected to roll off the production line in July 2021.
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