Tesla picks Texas for $1.1 billion assembly plant, to create 5,000 jobs

California based electric automaker Tesla has picked Austin, Texas capital, for USD 1.1 billion assembly plant that is expected to provide employment to around 5,000 people.

This will be one of the largest economic development projects in Austin's history.

Tesla CEO Elon Musk said during the company's earnings call on Wednesday that its next Gigafactory would be located near Austin, Texas.

The location is five minutes from Austin International National Airport and 15 minutes from Downtown Austin. It's about 2,000 acres, Musk said during the call.

"And we're going to make, I think, a factory that it's going to be