Tesla begins work on $10 billion Houston solar factory

Tesla has started preliminary work on a solar manufacturing plant near Houston, Texas, with a committed budget above $10 billion. The company has estimated the site could employ more than 9,000 permanent workers once running, and it is positioned as a possible cornerstone of Elon Musk's stated goal of 100 GW of annual U.S. solar manufacturing capacity. For long-horizon holders, this adds a large capital commitment to an already heavy 2026 capex program, with returns still years away given a 2028 completion target.

1. Tesla has commenced preliminary work on a solar energy manufacturing facility around Houston, Texas, committing over $10 billion (Benzinga, dated November 10, 2026).
2. Tesla estimated the facility could generate more than 9,000 permanent jobs once operational.
3. The project is reported to target completion in 2028.
4. Musk has pointed to a goal of 100 GW of annual U.S. solar manufacturing capacity; the project could be a key piece of that plan.
5. Tesla's 10-Q for the nine months ended September 30, 2026 reported capital expenditures of $13.01 billion, versus $6.13 billion a year earlier.