Tesla Inc TSLA CEO Elon Musk will deliver a talk on Thursday night at the company’s “grand opening party” for Giga Texas, the billionaire entrepreneur confirmed on the microblogging site Twitter.
What Happened: Musk has sent out invites for a Cyber Rodeo party to celebrate the opening of its newest GigaFactory and the start of production.
The event has a permit for 15,000 people.
The world’s richest man Tweeted to say “doors open at 4, festivities at 8,” and said he will deliver opening remarks at around 9 p.m.. Texas follows Central Time.
— Elon Musk (@elonmusk) April 7, 2022
"Preparing…," said Musk, further teasing the event through a video and photos.
See Also: Graphic: How Giga Berlin Stacks Up Against Tesla's Other Factories
Why It Matters: This is Tesla’s second gigafactory coming online in less than a month. The electric vehicle maker’s Giga Berlin was inaugurated last month and is its first factory in Europe.
The two factories are expected to lift capacity significantly for the EV maker which claims it does not have a demand issue but is unable to make enough vehicles
Price Action: Tesla stock closed 4.2% lower at $1,045.76 a share on Wednesday.
Photo: Courtesy of Elon Musk/Twitter
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