Tesla (NASDAQ:TSLA) is gearing up to announce a new assembly factory in the U.S., which could be located in the state of Texas.
According to the Austin American-Statesman, the green carmaker is currently in discussions with Travis County, home to Austin, over the size of a potential incentive package. The Travis County government is holding a closed-door meeting Tuesday to discuss what it's willing to offer Tesla, notes the report. A vote on the matter could take place in the next few weeks.
In May, reports surfaced that Tesla was considering two potential locations for the assembly plant that will churn out its Cybertruck electric pick-up: Austin, Texas, and Tusla, Oklahoma. At the time, reports pointed to Austin as the front runner. Once completed, the new factory expected to be Tesla's largest to date.
In March, Tesla CEO Elon Musk announced via Twitter the tech stock was scouting locations for a Cybertruck Gigafactory in central USA. The plant would also assemble Tesla's Model Y for East Coast customers, he said at the time.
Tesla has been expanding its manufacturing capacity in recent years, opening its Shanghai Gigafactory in November. Meanwhile, Tesla is preparing the site for a new plant in Germany. The Cybertruck is slated to begin production in 2021.