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Tesla held its conference call on third-quarter results with shareholders on Wednesday – but anyone who hoped the automaker would provide more details about moving its headquarters to Austin was likely disappointed.
Tesla CEO Elon Musk announced on October 7th that Tesla would move its headquarters to Austin, but gave little indication of what that would mean.
According to Wednesday’s earnings report, most of the details still remain a mystery.
Company executives said they still expect production in Tesla’s 1.1 billion. The company has not yet given a schedule for the move or given where the corporate headquarters will be built or how many employees will be in central Texas come or how many jobs could be created.
Musk did not attend Tesla’s most recent conference call, but company executives confirmed that production at Tesla’s Austin facility is expected to begin by the end of the year, according to previously announced plans. Delivery of one of these vehicles is expected to begin next year.
“We are also about to assemble our first production cars in Austin and Berlin. It is important to emphasize that the first production car is an important milestone. The hardest work lies ahead of us in the ramp-up,” said Tesla CFO Zach Kirkhorn Wednesday.
Kirkhorn said the pace could change and the company “pushes the boundaries” in “new products and manufacturing technologies” in both Austin and Berlin, the company’s newest locations, making it difficult to predict when .
In a slide show to shareholders, the company said the Travis County plant is progressing as planned and is in the process of putting equipment into operation and making its first pre-production vehicles. The facility also produces front and rear body castings required for the structural battery pack architecture.
Musk also said in a tweet this week that major construction is likely to be undertaken on the Texas facility in the next few months.
Since Musk announced in July 2020 that it had selected a location in southeast Travis County for a $ 1.1 million manufacturing facility that will house its Cybertruck, Semi, Model 3, Model Y sedan and batteries. The facility is under construction on 2,100 acres at 130 Texas and Harold Green Road.
In 2020, Musk also announced that he had relocated to Texas to be closer to the Texas location and SpaceX’s South Texas facility. The billionaire has also tacitly relocated or expanded his other businesses in the region.
On Wednesday, Tesla reported strong quarterly earnings that exceeded Wall Street’s expectations for revenue. Tesla posted sales of $ 13.76 billion in the third quarter, surpassing the expected $ 13.63 billion. Tesla said in a report to shareholders that it had the best net profit, operating profit and gross profit ever.
The company also announced on Wednesday that Tesla Insurance is now available in Texas. Currently only offered in Texas and California, the insurance has real-time driving behavior costs and is available to all Model S, Model 3, Model X, and Model Y owners in Texas.
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