Samsung Is Building a $17 Billion Chip Factory Right On Tesla’s Doorstep
“If you set up the new facility in a location away from the Austin plant, it could cost Samsung more for the supply of water and electricity and the establishment of other infrastructure. But the advantage is that it can operate the line in a more stable manner,” the insider said. Samsung is a key supplier to Tesla, and this move will clearly benefit both companies, with plans already in motion for a collaboration on a new version of Tesla’s FSD computer. The new plant will also benefit from tax breaks of over $300 million, and the groundbreaking ceremony has been pegged for the first quarter of 2022, with operations planned to begin in 2024.