Elon Musk threw a festive party of more than 15,000 people on Thursday night (07/04/2022) in the US to inaugurate Giga Texas, Tesla Inc’s newest factory. in Austin, Texas.
The “Cyber Rodeo” features a variety of art installations including Tesla coils, multiple stage shows, and a sea of Texas-made Model Y sports vehicles, set to look like the state flag of Texas.
The event opened with hundreds of drones flying through the night sky in various formations including Tesla’s upcoming innovative Cybertruck and a Shiba Inu dog.
“Welcome to Cyber Rodeo. We’ll talk about the past, present and future,” said Musk, who wore sunglasses and a black cowboy hat on stage, as he opened Tesla Inc’s newest factory, quoted from Bloomberg (08/04/ 2022).
The $1 billion plant, which is larger than the US Pentagon, is crucial to Tesla’s expansion. Previously, Tesla had been operating at its Fremont, California, plant since the glorious days of 2018, when it set up a large factory to ramp up production of its Model 3 sedan.
Tesla’s massive growth was driven by car production at the Shanghai Factory in China. The Giga Texas plant will produce the Model Y and Cybertruck crossover vehicles.
Despite the Covid-19 pandemic, Tesla Inc. managed to record sales of 310,048 cars worldwide.
Tesla’s deliveries were better than projected given the supply chain problems resulting from the Covid-19 pandemic, Wedbush analysts led by Dan Ives wrote in a note.
“We believe around 20-25 thousand units were pushed out from Q1 to Q2 due to logistical and manufacturing issues that keep this underlying demand volume still looking strong with a strong trajectory for the remainder of 2022,” Ives noted.
Quarterly deliveries are one of the most closely watched indicators for Tesla as they support the automaker’s financial results. The figure is widely seen as a barometer for general EV demand, as Tesla takes the lead in charging for battery-powered cars.