Tesla's Texas gigafactory: Cybertruck production to start next year, says Musk

US-based electric vehicle (EV) manufacturer Tesla Inc hosted an event on Friday, called 'Cyber Rodeo’, to mark the opening of its $1.1 billion factory in Austin, Texas, which will help the company ramp up its EV production and batteries.

Tesla’s billionaire CEO Elon Musk said that the opening event would be the biggest party on Earth. According to a Travis County fire marshal, Tesla is likely have around 15,000 attendants.

Musk, during the event, said, this is the Earth’s most advanced and largest factory in terms of volume. He also mentioned that overtime the Texas gigafactory would also become the world’s biggest battery producer and will be churning out its in-house 4680 batteries.

Musk also revealed that the factory will start producing its brand-new Cybertruck starting next year.

Tesla’s Austin factory, combined with a new Berlin factory, is expected to double the company’s production capacity to 2 million vehicles per year. Tesla had earlier stated that it would also expand production at factories in California and Shanghai and expects 50 per cent annual increases in deliveries over a multiyear period.

Interestingly, Tesla’s event comes after Musk recently surprised the world by disclosing that he had bought a 9.2 per cent stake in Twitter and will join the board of the social media platform.

The EV maker is expected to produce its Model Y’s lower-range, lower-priced versions at the Texas factory. The automaker has also received certificates from the U.S. Environmental Protection Agency for two new variants of its Model Y, with driving ranges of 244 miles and 279 miles. The current Model Y comes with a driving range of 330 mile.

Tesla said it will use giant casting presses to make the rear and front of the cars at new factories, in a bid to reduce manufacturing time and costs.