Tesla Inc (NASDAQ:TSLA)is set to build a massive battery storage facility near Houston, Texas, after securing a tax abatement deal with Waller County, according to reports from the US.
The one-million-square-foot site near Katy will be dedicated to manufacturing and managing Tesla’s Megapack energy products.
Under the agreement, Tesla will receive tax breaks based on property upgrades, including $44 million in facility improvements and $150 million in manufacturing equipment. The new site is expected to create around 1,500 jobs, according to EV publication Electrek.
While Tesla’s core business remains electric vehicles, CEO Elon Musk has ramped up its energy division. The company already operates a similar gigafactory in China, where it began production trials last year to benefit from lower lithium-ion battery costs.