AUSTIN (Austin Business Journal) — Elon Musk announced July 28 that Tesla Inc. has signed a $16.5 billion deal to source semiconductor chips from Samsung Electronics Co. Ltd. at its Taylor factory, which is on track to open next year.
It comes less than a month after the Austin Business Journal reported that the two Austin-area business titans were discussing a supplier deal, and represents a massive shot in the arm for Samsung as the South Korean electronics giant has struggled to find customers to fill its billion-dollar factory northeast of Austin.