Musk "Will Invest 12 Trillion Won in Texas Factory and Create 120,000 Jobs"

▲Elon Musk, CEO of Tesla [Image source=Reuters Yonhap News]

[Asia Economy Reporter Kwon Jae-hee] Elon Musk, CEO of the American electric vehicle company Tesla, announced on the 16th (local time) that "the investment scale of the Austin factory in Texas is approaching 12 trillion won and will create 120,000 direct and indirect jobs."

On the same day, Musk wrote on Twitter, "The investment scale of the Texas Gigafactory will exceed $10 billion (about 11.84 trillion won) over time, creating at least 20,000 direct jobs and 100,000 indirect jobs."

When a netizen posted a critical comment about Tesla relocating its headquarters from Silicon Valley, California to Austin, Texas, Musk responded with this comment.

Earlier, Reuters reported that Tesla had presented the investment and job creation scale for the Texas Gigafactory, built on a 2,100-acre (8.5 km²) site, as $1 billion (about 1.18 trillion won) and 10,000 jobs, respectively.

Tesla plans to produce electric sport utility vehicle (SUV) Model Y and electric pickup truck Cybertruck at the Texas Gigafactory, which is nearing completion.

In October, Musk declared at the shareholders' meeting that Tesla would move its headquarters to Texas, and earlier this month, Tesla reported to the U.S. Securities and Exchange Commission (SEC) that it had changed its headquarters address to the Gigafactory under construction in Austin, Texas.

This content was produced with the assistance of AI translation services.