SK Hynix Soars 13% in Nasdaq Debut After Record $26.5 Billion IPO 
Morgan Stanley Says China’s Reusable Rocket Progress Poses Long-Term Challenge to SpaceX 
Samsung to Launch First Yongin Chip Plant by 2029 as South Korea Speeds Up Semiconductor Hub 
Morgan Stanley Names Marks & Spencer Top European Retail Pick, Sees Strong Upside 
Taiwan Mangoes Head to Europe as Premium Fruit Exports Expand 
SK Hynix Prices Record U.S. ADR Offering at $149 After $200 Billion Investor Demand 
Elon Musk Says Anthropic Leads AI Race as Claude Models Challenge OpenAI 
Bain Capital Exits Kioxia After AI-Fueled Valuation Surge 
Chinese Chip Stocks Jump as Apple Reportedly Tests CXMT Memory Chips for China Devices 
SK Hynix Shares Drop After Strong Nasdaq Debut Despite $26 Billion ADR Listing 
Yaskawa Electric Shares Slide as Weak Profit Overshadows Strong AI Demand 
Arm Stock Falls After HSBC Downgrade, Citing Limited Near-Term AI Upside 
Nippon Paint Reportedly Offers Up to €7.5 Billion for Akzo Nobel Decorative Paints Business 
Australia Flags Child Safety Gaps at Apple, Meta, Google Over Online Sexual Extortion 
Genesis Minerals to Acquire Vault in A$5.6 Billion Deal After Regis Withdraws 
TSMC Q2 Revenue Surges 36% as AI Chip Demand Powers Growth Ahead of Earnings 
Tesla Inc. (NASDAQ: TSLA) is set to build a new Megafactory near Houston, Texas, dedicated to producing Megapack energy storage systems, according to Electrek. The facility, located in Waller County, is part of a tax abatement agreement aimed at boosting local manufacturing and job creation.
Under the deal, Waller County will provide tax incentives for $44 million in facility upgrades and $150 million in manufacturing equipment. The project is expected to generate around 1,500 jobs, reinforcing Tesla’s commitment to expanding energy storage solutions in the U.S.
Tesla plans to repurpose a 1-million-square-foot building at the Empire West industrial park near Katy, Texas. Previously leased by logistics company DB Schenker, the site will be transformed into a Megapack production plant. Additionally, a 600,000-square-foot distribution center with some manufacturing capabilities is in the works.
This Texas Megafactory will be Tesla’s third, following plants in Lathrop, California, and Shanghai, China. While Tesla has not disclosed the expected production capacity, existing Megafactories are designed to produce 40 GWh of Megapacks annually, supporting the growing demand for large-scale energy storage solutions.
Elon Musk’s Tesla continues to expand its energy infrastructure, strengthening its presence in renewable energy storage. The new facility underscores Tesla’s push to meet the rising demand for grid-scale batteries, further solidifying its position in the clean energy sector.
