After posting record financial results.
Tesla is the world's most successful EV manufacturer, and despite CEO Elon Musk's recent comments that the company nearly went bankrupt in the last few years, third-quarter earnings in 2020 have reached record levels, and with orders still rolling in for the highly anticipated Tesla Cybertruck, the future of the company is looking bright. Things are looking so bright in fact, that Tesla is expecting to create 15,000 jobs when it finishes building its Gigafactory in Austin, Texas. According to the Austin Business Journal, the estimates have increased from the previously speculated 9K jobs which consisted of 5,000 jobs through direct employment, and 4,000 jobs created indirectly.
Construction of the Austin-based Gigafactory is well underway, and once completed, will be home to the Cybertruck, Tesla's first foray into the world of pickup trucks. The move to Texas makes sense, as the state offers attractive tax incentives and a generally friendly business environment. The fact that Texas has an abundance of open land also helps. Tesla recently applied to the Texas Commission on Environmental Quality to operate a cell-manufacturing unit for the production of battery packs; a massive move that will translate directly into notable job creation not only within the factory itself but for surrounding businesses in the supply chain.
The East Austin Growth Summit has declared a confident number of 15,000 jobs, and prominent Texan business people are predicting a trickle-down effect once the Gigafactory opens its doors, with 50 new companies moving to Texas to keep supply chains short and efficient. Tesla is currently spending vast amounts of money on the Berlin Gigafactory, and is also scaling up its factory in Shanghai. The company is reaping the rewards, with a record 139,593 vehicle deliveries for the third quarter of 2020. With new products soon to roll out, and two big manufacturing hubs in the works, Tesla should be creating even more jobs in the future.