Boxabl Is Building Modular Foldable Homes That Can Be Setup in an Hour and Produced Every 90 Minutes
This company is going to revolutionize the housing industry.
Boxabl has been making waves in recent times with its ambitious goals, but what sets them apart is its execution. Boxabl has a lofty goal to have several factories all around the world producing fully modular, tiny homes that can be stacked, rearranged, and customized based on a family's needs and budget. They have the lofty goal of raising $1 billion to produce a Giga factory that can produce one boxabl every 90 minutes, then franchise factories all around the world. In less than a year, the company has set up a factory currently producing two homes a day, with plans to ramp that up to four by the end of 2022. They have already produced hundreds of tiny homes to date and shown ways in which they could become modular and stackable.
Not bad for a company with that’s only been in production for less than a year. The tiny homes sell for only $50,000 and can be set up in just 1 hour upon delivery. The idea has drawn lots of mainstream media attention, especially after it was disclosed Elon Musk was one of their first customers, with a Boxabl currently sitting on Elon Musks Starbase in Texas. Since then, they have amassed a whopping 100,000+ pre-orders looking to get their hands on one. Given the current rate of production, it might be a while before people at the end of the list actually see theirs. If they raise the full $1 billion, that will likely change that quite significantly, as the plan to open up a massive 1 million sq. ft. factory. For reference, they are currently operating in 1 factory at about 160,000 sq. ft., and the newer factory is sitting closer to 140,000 sq. ft. So this would over triple the size of their current operations.
Despite only being about 400 sq. ft. (20x20 in size), this is a potentially game-changing product due to the larger housing shortage around the world. Housing is only getting more expensive as time goes on, despite the occasional downturn. If they are able to produce dozens of homes every single day, this could easily help make home ownership accessible to everyone. People just starting out can buy one Boxabl home, then once they have the money, slowly buy several more to add on to their existing structure. Given the relatively fixed price at $50,000, once they are in the full swing of production, this creates a good access point to everyone around the world. This would create much smaller mortgages and manageable debt for anyone tired of having a landlord. These are about the size of your average apartment but would allow people to build equity, even if it’s only in a smaller home.
They have regularly released concepts for Boxabl houses, but one of the co-founders recently released something a bit more concrete about what the Boxabl of the future might look like: