Tesla in Texas? CEO hints at gigafactory as stock soars

Tesla in Texas? CEO hints at gigafactory as stock soars

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Tesla CEO Elon Musk hinted that his electric vehicle company may build a factory in Texas.

In a teaser of sorts, Musk mysteriously tweeted a question with a poll early Wednesday: “Giga Texas?”

The choices: “Hell yeah” or “Nope.” 

Tesla’s plants in Nevada and Shanghai go by the name “gigafactory,” which is a play on the word “gigawatt” in reference to the batteries the plants manufacture for the company’s electric vehicles. Tesla’s plants in Fremont, California, and Shanghai also assemble vehicles.

It was not immediately clear how serious Musk is about the possibility of building a factory in Texas. But he has been known to make significant announcements on Twitter, where he has some 31 million followers.

Tesla representatives did not immediately respond to a request seeking comment.

As of 7:50 a.m. Wednesday, some 79% of about 180,000 poll respondents had voted in favor of a plant in Texas, while 21% voted no. The poll is not scientific.

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While building automotive factories from scratch is typically a costly endeavor, it’s looking a lot more doable for Tesla these days after a tremendous run for the company’s stock.

The shares have more than doubled this year, closing at $887.06 on Tuesday, up nearly 14% for the day after topping out at $968.99 in intraday trading.



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