Huileng Tan , Business Insider » 

Tesla is pouring in more than $1 billion into its new Gigafactory in Texas that is expected to be completed by the end of this year.

Construction filings with the Texas Department of Licensing and Regulation showed the electric vehicle company would spend $493 million for the general assembly section and $182 million for the body shop. Construction of the facilities for these sections, alongside the paint, casting, and stamping facilities, will be completed by December 31, according to the documents. The five facilities cost a combined $1.06 billion.

Elsewhere » Electrek

In comparison, Samsung is investing USD$17 billion in Texas chip plant » Asia Times / CNBC