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00:02Tesla has begun preliminary work on a new solar energy manufacturing facility near Houston,
00:08Texas, with an investment of over $10 billion, according to Benzinga.
00:13CEO Elon Musk confirmed the project, called Project Crystal Sun, in a post on X.
00:20Construction is expected to finish in 2028,
00:23with commercial operations beginning in the first quarter of 2029.
00:26The vertically integrated facility will manufacture wafers and ingots and conduct cell testing.
00:32Tesla estimates the project will create over 9,000 permanent jobs.
00:37The factory could support Musk's goal of establishing 100 gigawatts of annual U.S. solar manufacturing capacity.
00:44Tesla previously discontinued its solar roof tiles in favor of traditional solar panels.
00:50For all things money, visit Benzinga.com.
