A Korea-based Tesla Supplier has been approved to build a $28 million facility in Texas, not far from the electric vehicle (EV) maker’s Gigafactory in Travis County.
City Councilmembers in Buda, Texas this week approved Korea-based Tesla supplier Futronic to build its first U.S. location in the city, as detailed in a report from Austin Business Journal. The city approved the company for $600,000 in tax incentives, along with additional incentives from the Hays County Commissioners Court.
Futronic is looking to purchase a 66,000-square-foot building at 2899 Business Park Drive, formerly home to Fat Quarter Shop LLC, according to the Greater San Marcos Partnership. The site is about 20 minutes from the Giga Texas, and it’s expected to bring as many as 350 jobs to the area.
In total, the company is expected to be investing $17 million into the project, along with the purchase of the building being estimated for around $11 million, according to the report.
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“Buda has a skilled workforce, with a school district that provides robust CTE (career and technical education) programming, so this is a real asset for not only our economy but for families and future generations,” said Shannon Mumley, Assistant Director of the Buda Economic Development Corp. (BEDC).
Futronic produces actuators, motors, and other controller devices for global automotive companies, as can be seen on the company’s website. Although most of Tesla’s suppliers remain private and under non-disclosure agreements (NDAs), Futronic was confirmed by the Greater San Marcos Partnership as one of the automaker’s suppliers.
A number of Tesla suppliers have announced plans for new U.S. projects, recently including the approval of a Piedmont Lithium project in North Carolina, where the company plans to build out a lithium mining facility.
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