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Tesla Model S
The official announcement will be made tomorrow

Well it looks as though Tesla Motors has selected a site for its $5 billion Gigafactory. After scouting locations in Arizona, Nevada, New Mexico, and Texas, the electric car manufacturer has selected Nevada for the massive battery-making facility.
 
CNBC and Bloomberg both confirmed the news, with sources within Governor Brian Sandoval’s administration stating earlier today “[It’s] a go, but they are still negotiating the specifics of the contract.”
 
Governor Sandoval took to Twitter himself to announce a major event scheduled for tomorrow:
 
 
Tesla’s Gigafactory will span 500 to 1,000 acres and will employ roughly 6,500 employees (hence the tremendous interest from the southwestern states to earn Tesla’s business). Tesla hopes that its Gigafactory will be able to supply battery packs for around 500,000 vehicles per years by the year 2020.

 
The Gigafactory will be a joint effort between Tesla and Panasonic. Tesla is providing the land, buildings, and utilities for the plant, while Panasonic will be tasked with actually manufacturing the battery cells that will go into the EV battery packs. Panasonic is looking to provide an initial investment of $200 to $300 million and could foot upwards of $1 billion for the project.
 
Tesla is depending on the huge scales of its Gigafactory operations to help lower the costs of battery packs in its vehicles. Lowering costs will be a huge obstacle for Tesla’s third generation EV, the Model III. The Model III sedan will be priced below $40,000 and is expected to have a driving range of over 200 miles.
 
Tesla is expected to make the first deliveries of the Model III in 2017.

Sources: Governor Brian Sandoval [via Twitter], Bloomberg, CNBC





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