Tesla is holding a big party deep in the heart of Texas to celebrate the opening of a new US$1.1 billion production plant that will help the company produce cars and batteries that are really important for its growth plan.
The party – dubbed the “Cyber Rodeo” – is supposed to have about 15,000 guests, and Elon Musk is calling it the biggest party in the world.
This new factory and the new plant that just opened in Berlin will effectively double Tesla’s ability to produce cars.
“There will always be the potential for some hiccups along the way," Morningstar Analyst Seth Goldstein said, adding that Tesla eventually would overcome any ramp-up difficulties as it did with Model 3 production several years ago.
“One of the challenges they’ve got right now is because Tesla has not been able to launch volume production of their 4680 cells," Guidehouse Insights analyst Sam Abuelsamid said. “So it’ll probably be a while before the Texas factory can get up to full speed."