Tesla Gigafactory To Be Built in Nevada | Edmunds

Tesla Gigafactory To Be Built in Nevada


Just the Facts:
  • Nevada has been selected as the official site for the Tesla Gigafactory, an advanced battery facility.
  • The Gigafactory will allow Tesla to produce cheaper and more efficient battery packs for its cars, including the $35,000 Tesla Model 3.
  • The Gigafactory "will enable the mass production of compelling electric vehicles for decades to come," said Elon Musk, Tesla CEO in a statement.

CARSON CITY, NevadaTesla Motors on Thursday said Nevada has been selected as the official site for the Tesla Gigafactory, an advanced battery facility that is expected to propel the electric-car maker into the ranks of mass-market auto manufacturers.

Tesla said the goal is to produce enough batteries to build 500,000 cars by 2020. A battery bottleneck has been keeping Tesla from becoming a major player in the industry. The carmaker is named for inventor Nikola Tesla.

The Gigafactory will enable Tesla to produce cheaper and more efficient battery packs for its electric cars, including the $35,000 Tesla Model 3, which will be based on the company's third-generation platform. The Model 3 is due out in 2017.

The factory is a linchpin in Tesla's offensive to make the Model 3 competitive against the BMW 3 Series.

The facility — the world's largest factory of its kind — will produce cells, modules and packs for Tesla's electric vehicles. Tesla has said the plant could cost as much as $5 billion to build.

The Gigafactory "will enable the mass production of compelling electric vehicles for decades to come," said Elon Musk, Tesla CEO in a statement.

Tesla announced earlier that it signed a deal with Panasonic to build the Gigafactory.

"The Gigafactory is being created to enable a continuous reduction in the cost of long-range battery packs in parallel with manufacturing at the volumes required to enable Tesla to meet its goal of advancing mass-market electric vehicles," the two companies said in a statement.

Edmunds says: Tesla's Gigafactory takes another step toward reality. It's good news for consumers because it means that the cost of Tesla's EVs are likely to come down to more affordable levels.

Leave a Comment
ADVERTISEMENT
ADVERTISEMENT