Yesterday marks another milestone in the EV industry, as the world’s largest factory, Texas Gigafactory was unveiled in Austin by the American tech giant, Tesla. The event tag Cyber Rodeo featured over 15,000 participants around the world.

The new Tesla’s Texas Gigafactory is designated to mark the beginning of production of Tesla’s new Model Y, Model 3, Tesla Semi, and iconic Cybertruck, and produce up to 500,000 electric vehicles annually.

At the beginning of the event, Tesla CEO, Elon Musk introduced the company’s three key technologies of the new factory, namely 4680 battery, CTC technology, and integrated die-casting technology.

The 4680 battery is the world’s highest EV battery capacity and more new models are expected to be produced in the factory.

With this, Tesla will be able to increase production efficiency by implementing these technologies. Model Y’s production capacity has surpassed 50% of the total capacity of 10,000 units per year and vehicle costs can be greatly lowered.

In addition to Model Y production, Musk stated that the factory will produce the 100% electric pickup Cybertruck next year. This plant will also produce the Tesla electric truck Semi and the second-generation electric supercar Roadster.

The Model Y is the first car produced by the Gigafactory. According to Musk, the car’s glass could withstand bullets, and an iron ball was used for trials on the spot, but the car’s glass fractured on the spot following the contact, which was embarrassing. While Cybertruck will be the next factory vehicle. The Cybertruck, according to Musk, always looks like CG in real life, but it’s actually real.

With the Gigafactory, Tesla has built four super factories around the world, plus six factories in Central America and Europe, and one factory each in New York and Nevada. The new Gigafactory can build structured packs that incorporate the cells directly into the vehicle frame, a technology known as CTC, as an advantage over others.

Likewise, the electric car giant also plans to hire 5,000 individuals with a starting pay of $35,000, plus employment opportunities in partnership with educational institutions in the area.

In the past two years, Tesla has not produced new cars but has been expanding its production capacity, with two years of unremitting efforts. However, with all of these factories, the firm can produce more than 2 million automobiles per year, and subsequently hit the sales target of 20 million vehicles in 2030 meeting Elon Musk’s satisfaction.

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