Tesla expands real estate portfolio buying more land next to Giga Texas

Giga Texas construction drone

What do you do when 2,000 acres of land isn’t enough for your plans to build a factory? When you’re Tesla, you buy an additional 381 acres right next door.

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According to a report by the Statesman, Tesla has done just that, and could be adding even more land to its portfolio of holdings before it’s all said and done.

The new piece of land could be used for research and development and design facilities, and even a battery manufacturing plant according to Wedbush analyst Daniel Ives.

Not only could it be used for additional facilities, the land also gives Tesla several new access points to its main 2,000 acre parcel, according to local develope Karl Koebel.

Site plans for the new Giga Texas were recently discovered on the City of Austin website, detailing three massive buildings amounting to more than 8 million square feet. Tesla apparently didn’t like the fact they were published, and the plans were subsequently removed from the city website.

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CEO Elon Musk announced Austin, Texas as the location for the company’s next Gigafactory earlier this year, with work on the site already beginning a week before.

Since then, workers have been going all out and have cleared the entire site in preparation for the first real construction to begin. At this rapid pace, the automaker’s goal of having the factory up and running by next year seem well within reach.

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