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Tesla Inc (NASDAQ: TSLA) has paid nearly $100 million for the 2,000-acre land on which it plans to build its last gigafactory, Electrek reported on Sunday.
What happened
Former owner of the property, TXI Operations LP, a unit of Martin Marietta Inc (NYSE: MLM), revealed in an effect call on July 28 that he had sold a $97 million “exhausted state gravel site”, as reported in the past. through Austin Local Media.
TXI IOperations gave additional main points on the assets it sold, or the buyer’s call, however, according to Electrek, the reference refers to The Tesla production plant in a structure near Austin, Texas.
The electric vehicle manufacturer had purchased the land from its subsidiary Colorado River Project, LLC.
Why it’s important
Heavy machinery has been detected on site since last month, each and every day of the week, Electrek noted. The long-term scale of the plant is impressive and the new facility could be one of the largest buildings in the world, once finished.
Chief executive Elon Musk said the company’s second quarter proceeds indicate that the Texas plant would have walking trails and other herbal features for the public.
The Gigafactory would basically be used to build the company’s all-electric pickup truck, the Cybertruck.
Price action
Tesla’s stock closed Friday with a rise of $2.48 to $1452.71.
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