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Tesla Cybertruck Steel Supplier To Be Operational In Texas By Fall 2021: Report

Tesla Cybertruck Steel Supplier To Be Operational In Texas By Fall 2021: Report

Tesla Inc's (NASDAQ: TSLA) is building its newest factory in Austin, Texas. Giga Texas is expected to produce the Model Y along with Tesla's newest vehicle, the Cybertruck. The Cybertruck is a unique pickup truck, with a unibody made from stainless steel.

Now a report from KIII-TV says the supplier of the 1.7-billion-dollar steel dynamics plant under construction in Sinton, Texas is expected to be up and running by fall 2021. It is expected to provide hundreds of local jobs as well as supply the steel needed for Tesla's Cybertruck.

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“Now some of these other companies who work with STI will actually be taking STI’s product and refining it a little bit better we’re hearing that one of the companies that were pretty close to probably getting close is a company that’s going to be taking STI steel redoing it and that Steele will actually be going into the Tesla cars that they’re moving in from California to manufacture here," San Patricio County Judge David Krebs told the TV news station. 

Benzinga's Take: Tesla expects to make its first Cybertruck deliveries at the end of 2021, with higher-volume production coming in 2022.

With the steel supplier getting up and running in the fall, it seems it will be a tight schedule. But if everything goes to plan, Tesla may meet its goal of initial Cybertruck production. Tesla could also get its initial steel supply from another source if its factory is ready before this new supplier. 

Photo courtesy of Tesla


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