A Tesla Model 3 was seen towing a Boxabl house in Las Vegas. The founder and CEO of Boxabl, Galiano Tiramani, shared a video of the Model 3 pulling a 15,000-pound Boxabl Casita on Twitter. When Teslarati reached out to Galiano, he told us that Boxabl demonstrated towing the Model 3 on the Las Vegas Speedway, which you can see in the video below
Galiano told Teslarati that the team performed trailer testing that “shows just how transportable our room modules are. What better vehicle to use than a Tesla?”
“As expected, the model three was amazing and easily able to tow the 15,000-pound Casita,” he added.”
“Have you ever seen a whole house towed by a car before, let alone an electric Tesla? Our trailer system makes this all possible, and it’s super important in enabling us to transform the production of housing and make it compatible with the factory mass production assembly line.”
“Even though the Tesla Model 3 does not have a tow hitch, we decided to pick one up and modify it. We knew that although it’s not rated to tow a Casita legally, it would be strong enough. A big shout out to enterprise Rent-A-Car for loaning us the vehicles.”
Boxable sells room module systems that shorten build time in real estate development projects. Galiano explained that his goal with the company was to one day produce one house per minute, just like the Tesla Fremont factory produced almost one per minute.
“Suppose you can’t ship something in a cost-effective manner. In that case, you can’t mass-produce it in a factory, you have to build it on-site, and that’s the current situation of housing in the world a solution that makes shipping houses cost-effective means we can scale manufacturing, and hopefully, scale manufacturing to the level you see with automobile makers. The goal of Boxabl is for our factories to one day produce one house per minute, just like a Tesla is produced one per minute,” Galiano said.
The gallery below includes more photos from Boxabl’s demonstration on Las Vegas Boulevard.
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Hello! 👋
As we begin another year, we are grateful for the support that we continue to receive from all our fans. The BOXABL dream would not be possible without you.💖 Check out the latest updates, what’s coming up next, and some reminders below from the BOXABL team.
Factory Update Video #6 🎥
We’ve been really busy over here at BOXABL HQ – upgrading our Factory Building equipment, producing more Casitas, and bringing in top talent to name a few things. To hear the latest news, check out our latest Factory Update Video #6 👇
We have inventory of two classifications of Casita units: Modular and Park Model RV. These units are built and waiting to be shipped. 🚚
Seeking Customers 🗺️
Modular: (Regular Casita) Under the Residential Building Code, we are looking for customers in Arizona, Hawaii, Kansas, Nevada, New Mexico, Oklahoma, Utah, Vermont, West Virginia, Wyoming who are ready to purchase the Casita.
Park Model RV: (Casita on a trailer) Per the ANSI A119.5 Code, these units can be sold as a Park Model RV in each state except for AL, CA, KY, NE, OR, WA. They may be deployed in RV parks, mobile home parks, or backyards.
What we need from you? 📝
Please fill out the Casita Order Questionnaire so we can determine your eligibility for these Casitas. If you have previously filled out this questionnaire, haven’t heard from us, and are in a qualified state, please send an email to sales@BOXABL.com
Why only these states? 🤷♂️
Due to state and local regulations, the available Casita models can only be sold in certain locations. We are working hard to get approvals in all fifty states, but this takes time. ⏱️
*Please note that sales may be subject to approval from local jurisdiction.*
UPDATES✅
Regulatory Approval:Modular Approval in Arizona! 🎉
After months of work, we have successfully obtained an approved plan set and Plant Certification of our North Las Vegas facilities, for operations in Arizona.
✔️ This is a huge accomplishment, and we are excited for what this means for the future of approvals. We are now able to offer Modular buildings, under the M-9E Manufacture License, for installation in Arizona!
BOXABL is pleased to welcome Martin Costas as our Chief Financial Officer. 💰 Martin started his career in public accounting with PwC where he contributed to more than 100 Audits, Consulting, and Advising engagements including capital markets engagements; and comes to BOXABL with deep CFO experience leading the finance function in companies such as Honeywell, Schlumberger, and Nexans. During his career, Martin has successfully led complex IPO and M&A processes. His expertise and strategic insights play a pivotal role in BOXABL’s growth.
$60,136,285 reserved by 15,403 investors for our next crowdfund!
Explore our BOXABL Merch online store to discover a range of stylish items- including t-shirts, hoodies, hats, and more, all featuring the iconic BOXABL logo.
Thank you for being a valued part of the BOXABL community. Don’t miss out on the chance to be among the first to rock official BOXABL gear!
PRODUCT INNOVATION✨
Introducing GOLDIBOX
We recently completed the GOLDIBOX 👱♀️ prototype. This unit showcases three different room modules that can be combined to create twelve different configurations! 🏘️ That’s a lot of options! Soon, you will be able to design 1-4 bedroom homes! This is the future of BOXABL building system. There is no exact timeline for release, but we are excited for what’s to come.
Watch the video below for a sneak peek of GOLDIBOX🏠
We are in the process of implementing $15 Million worth of automation upgrades at our three Factory Buildings in North Las Vegas, NV. 🏭 Keep an eye out for many advancements coming soon! See a glimpse of the future in at this video below.
We need more information from you about your BOXABL project! For those interested, please fill out the Casita Order Questionnaire 🏠. As we continue to work on getting additional state approvals, we can let you know when your state has been approved.
The BOXABL App: Track Your Investment!
Download the official BOXABL app 📱on the Google Play Store or Apple App Store to track your investment. Also, if you order BOXABL Merch from the app, you can get a special investor discount!
Monthly Updates: The BOXABL Webinar
Want to hear more from BOXABL? Join us for a monthly webinar! 💻Hear updates from the company, participate in a live Q&A, and give us your feedback. Register for an upcoming webinar here.
Installer Training: Slots are Filling up Fast!
If you are a General Contractor 🛠️ and are interested in becoming part of a growing family of preferred BOXABL installers, click here!
Visiting Vegas? Come for a tour!
There are tours each business day at BOXABL Factory Building 1. Come out and see where the magic happens. 🔨 Click here to book your tour!
For the most up-to-date information, follow us @BOXABL on social media!
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NO MONEY OR OTHER CONSIDERATION IS BEING SOLICITED, AND IF SENT IN RESPONSE, WILL NOT BE ACCEPTED.
NO OFFER TO BUY THE SECURITIES CAN BE ACCEPTED AND NO PART OF THE PURCHASE PRICE CAN BE RECEIVED UNTIL THE OFFERING STATEMENT FILED BY THE COMPANY WITH THE SEC HAS BEEN QUALIFIED BY THE SEC. ANY SUCH OFFER MAY BE WITHDRAWN OR REVOKED, WITHOUT OBLIGATION OR COMMITMENT OF ANY KIND, AT ANY TIME BEFORE NOTICE OF ACCEPTANCE GIVEN AFTER THE DATE OF QUALIFICATION.
AN INDICATION OF INTEREST INVOLVES NO OBLIGATION OR COMMITMENT OF ANY KIND.
As housing prices continue to escalate, at least one Las Vegas-based company offers a product that won’t break the bank.
Boxabl has created a building system that’s easily scalable for mass production that makes the houses it manufactures extremely affordable — provided buyers have a place to put them.
And if they’re good enough for the world’s wealthiest man, who wouldn’t want to give them a shot?
Tesla Inc. Elon Musk paid $50,000 for one of three Boxabl prototypes. Musk had the 375-square-foot Casita delivered to the SpaceX testing grounds in Boca Chica, Texas.
The 20-foot by 20-foot home is similar to a studio apartment. The foldable homes are eight feet wide when they ship and can be unfolded at the buyer’s location in less than an hour.
Each Casita includes a full-size kitchen with all appliances, a bathroom with a toilet, shower and sink, a living room, a bedroom and a washer and dryer. Heating and air conditioning also are included.
Boxabl signed a deal with the U.S. Department of Defense for an initial order of $9.2 million and earlier this year announced a partnership with homebuilder D.R. Horton Inc. that includes an order for 100 units and investment in the company.
Homeownership For All
Boxabl’s mission is to lower the cost of homeownership for everyone, and it’s launched a crowdfunding campaign on StartEngine to help it achieve its goal of producing housing in much the same way most modern products are mass-produced — on an assembly line.
Boxabl already has received interest for more Casitas than it can produce for the next several years. It has more than 100,000 reserved Casitas that could translate into $1 billion in revenue, according to the company’s StartEngine page.
It’s also seeking franchise partners to help it expand as housing prices continue to soar. Boxabl will provide its branding, quality control, intellectual property, custom equipment and raw materials to its partners who will start their factories around the world.
Median U.S. home prices were up 6.7% to $406,074 in August compared to the same month last year, according to Seattle-based residential real estate brokerage Redfin Corp.
And as prices rise, consumer demand for smaller living spaces is soaring. The increasing popularity of backyard accessory dwelling units (ADUs) is being propelled by new laws in municipalities across the country that streamline the permitting process and allow them in more places.
The tiny homes market share is expected to increase by $3.57 billion from 2021 to 2026, and the market’s growth momentum will accelerate at a compound annual growth rate of 4.45%, according to global market research firm Technavio.
Latest Insights
Rentberry, the startup that is expected to disrupt the rental market, has now raised over $11.4 million through its current funding round on StartEngine.
With housing suppliers around the world continually having trouble meeting demand, some companies are looking for more efficient and cost-effective ways to build and sell homes.
CGTN’s Mark Niu visited one Las Vegas home builder that believes the solution should come wrapped in a box.
Coming off a record-breaking $75 million equity crowdfunding campaign on StartEngine, Boxabl recently released its financials for the first half of 2022.
A point of contention throughout the fundraising process was its valuation. The startup went into its nine-figure fundraising efforts with a roughly $3 billion valuation and very little revenue on the books.
While this isn’t unheard of, it can make investors uneasy knowing how much ground the company has to make up before it breaks even. Fortunately, investors might have just gotten their first glimpse into the company’s momentum following the release of its 2022 financials.
The company’s financials showed $7.6 million in revenue for the first six months of 2022 and an overall net loss of $31 million. It has a strong cash position of over $56 million and over $74 million in total assets with very few liabilities. Many investors might be balking at the $31 million loss, and that’s understandable, but it’s important to give context to the numbers.
Throughout 2022, Boxabl finished its Factory 1 and continually improved it with new machinery to improve efficiency. Boxabl has since signed a lease and begun building its second factory.
There will be continued substantial upfront costs as the company turns its focus to its announced billion-dollar giga-factory. As Boxabl ramps up its production efforts from these investments in manufacturing capacity, it’s likely those numbers will slowly turn more favorably over time, including increased revenue and decreased costs.
What is Boxabl?
Boxabl is a manufacturer of tiny homes, known as Casitas that can be stacked and set up in about an hour.
The company made headlines earlier this year when it came out that Elon Musk purchased a Boxabl himself and rumors suggested that the prefab house was his primary residence. It turns out, however, that the $50,000 foldable house is actually being used as Musk’s guest house.
The company has raised on several crowdfunding platforms, including most recently on StartEngine, a leading equity crowdfunding platform.
StartEngine hosts hundreds of top startups like GameFlip and TruBrain, which anyone can invest in on the ground floor in hopes of a future initial public offering (IPO). As Boxabl seemingly wraps up its ongoing equity crowdfunding efforts, it’s likely to focus on growth. In recent months, the company has announced deals with the Las Vegas Motor Speedway and other innovative ways the company is using the houses.
At the ongoing COP27 climate conference in Sharm el-Sheikh, Egypt, the UN Environment Programme shared bad news about the buildings and construction sector: It’s 2022 Global Status Report for Buildings and Construction found that emissions from the construction of new buildings and the heating of existing ones reached record highs in 2021, making up approximately 37 percent of global carbon dioxide emissions from energy and processes and leading the sector even farther off track from a goal of decarbonizing by 2050.
But there are some players in the housing sector modeling a more energy-efficient, sustainable way of doing business. One example is the Las Vegas-based company Boxabl, which wants new homes and buildings to one day be built as efficiently as cars.
“The goal of Boxabl is to dramatically reduce housing costs by making building construction compatible with assembly line mass production,” founder Galiano Tiramani said in an interview with Forbes Magazine. “We see a huge opportunity to transition the world from building by hand, to using the same factory principles that we use for all our other modern products.”
The company’s first foray into assembly-lined housing is a 20-by-20 foot “Accessory Dwelling Unit” called the Casita. It was first tested in Las Vegas at the beginning of 2020, according to the company. It includes a kitchen, living room and bathroom. In 2020, Boxabl said the studio-sized dwellings would cost contractors $50,000 and tenants up to $250 a month, but the website now says it can’t guarantee a unit price for the Casitas. That’s because there is so much demand that people who order a Casita today may not receive it for a year, which is too far out to predict material costs. However, Boxabl still said the unit was a more affordable housing option. So far, more than 100,000 people have reserved Casitas, which is more than the company can produce in several years right now, Benzinga reported in October. Perhaps the most famous Casita owner is Tesla co-founder and CEO Elon Musk, who paid $50,000 for a prototype that he installed at the SpaceX testing grounds in Boca Chica, Texas.
Boxabl says the Casita is a more sustainable housing choice for several reasons. One is the materials.
“Our homes are energy efficient because of building material used, more so than your regularly built homes,” Tiramani told the Mesa Valleys Progress.
Another aspect is the design and insulation.
“Boxabl buildings are extremely energy efficient,” the website states. “This is because [of] the high R value insulation, tight building envelope, and limited thermal bridging.”
A third factor is how they are designed to fold up easily for shipping and then unfold to be set up in less than an hour.
“This innovation makes transportation efficient, cost-effective, and less environmentally taxing than all other operations in the industry,” the website states further.
Tiny homes in general have been touted as a climate solution since house size is a major obstacle to efficiency.
“Simply put, you should build as small as you can for what you need, and if possible, you should avoid having a basement,” University of Toronto Department of Civil and Mineral Engineering Professor Shoshanna Saxe advised the University of Toronto Engineering News.
The tiny home market is also growing as housing prices rise – the median U.S. house price was $406,074 in August, according to Redfin Corp numbers reported by Benzinga. In this context, the tiny homes market share is predicted to rise by $3.57 billion from 2021 to 2026.
However, the tiny house push has faced some criticism from those who argue it isn’t really the most efficient use of space, especially in major cities with high land costs. Instead, more densely packed housing complexes are a greener solution that can fit more people in the same high-demand area.
“Microunits — small units, some under 200 square feet, in large, dense housing structures — are a good idea indeed. But tiny houses are ultimately a dead end in the search for affordable homes,” Dylan Matthews wrote for Vox.
