Tesla has applied to the Texas Department of Licensing and Regulation for regulatory approval for the first phase of Gigafactory Texas. The filed documents reveal Tesla’s planned completion date and budget.

The next chapter in Tesla’s history will center on the company’s two new factories: Gigafactory Texas in Austin and Gigafactory Berlin in Germany. The word on Wall Street is that investors are counting on the twin Gigs to start production soon, allowing Tesla to whittle down its order backlog and ride a wave of new sales.

Tesla hopes to begin production at both sites by the end of the year. At Gigafactory Berlin, environmental approval has been delayed, and getting the “green” light to start production is expected to take at least another month. Tesla’s regulatory filing for Gigafactory Texas specifies a completion date of December 31, and at this point, the company seems to be on track to meet it.

The filing includes separate budgets for each section of the new plant:

• Body-in-white: $182 million
• General Assembly: $493 million
• Paint: $126 million
• Casting: $109 million
• Stamping: $150 million

Model Y will be the first vehicle produced at Gigafactory Texas, and this billion-dollar investment is expected to translate to initial annual production of 500,000 Model Ys. Tesla has said that the production ramp-up could take much of 2022. Model 3, Cybertruck and the Tesla Semi will later be produced at the site.

Source: Electrek