Tesla Motors' Gigafactory to Help Push Out Half Million EVs/Year in 2020
February 27, 2014 9:22 AM
comment(s) - last by
The giant Gigafactory will span 500-1000 acres of land
Tesla Motors' all-electric auto business heavily relies on batteries, so it makes sense that the company has placed a lot of emphasis on that area with Supercharger stations, replaceable battery tech and road trips to relieve range anxiety for customers. Now, Tesla is finally revealing some details on its huge, upcoming battery plant.
, its new factory -- dubbed "Tesla Gigafactory" -- will be located in either Nevada, Arizona, New Mexico or Texas. Tesla is likely choosing among these Southwestern states because the factory will be largely powered by solar and wind power, and the Southwest has plenty of sunshine to feed the plant.
The giant Gigafactory will span 500-1000 acres of land and have a space requirement of 10 million square feet. It'll employ around 6,500 people and aims to produce 35 GWh of cells and 50 GWh of battery packs a year.
Tesla added that it's getting ready to produce 500,000 EVs a year in 2020, and the Gigafactory will supply those battery packs. What's more is that Tesla expects the per-kWh cost of a Tesla battery pack to be lowered by more than 30 percent once the factory is up and running for the first year.
This is huge for Tesla, since the cost of batteries is a large fear of potential EV customers. Tesla has been working hard to ease such fears, since this will lead to more sales in the future.
The automaker recently
addressed range anxiety
associated with road trips by placing Supercharger stations from Los Angeles to New York, allowing for a coast-to-coast trip free of worry.
Tesla will invest around $2 billion in the plant through 2020 while investors will pay another $2-3 billion for a total $4-5 billion investment.
This year will be a busy one in the Gigafactory's timeline, as Tesla plans to select a location, start intial project design, engage in partner discussions, begin zoning and design, and finally start construction.
Construction will continue through 2015, and in 2016, equipment installation is set to begin. The year 2017 will finally see production launch, and will gun for the half million EVs produced in 2020.
Tesla has proven time and time again that being the small guy in the auto race doesn't mean coming in last. In May 2013, Tesla repaid its $465 million loan from the U.S. Department of Energy (DOE)
nine years earlier
than expected from the original 2022 due date.
Tesla is currently rocking the auto world by fighting auto dealers around the U.S. in order to sell its Model S on its own without any middlemen. Tesla CEO Elon Musk said he'd make the fight a federal case if he had to.
, Tesla reported a profit of $46 million and saw its loss decrease to $16.2 million, which is much slimmer than the $90 million loss a year earlier.
Tesla shares rose $34.65 to close at $252.30 Tuesday, and kept rising in premarket trading early Wednesday hitting $258.60.
This article is over a month old, voting and posting comments is disabled
RE: Talk about dreaming big...
2/27/2014 11:58:10 AM
There's no reason the recycling exchange/collection couldn't be unmanned and right at the supercharging station. The aluminum plates would need to be sealed. I'm sure some RFID system could be setup and the "recycling center" could look a lot like a red box machine.
Recharge, swap the plates, and you're good for another 300 mile leg. The lithium ion battery could be LEAF sized in that scenario.
RE: Talk about dreaming big...
2/27/2014 12:18:29 PM
Such a system sounds pretty expensive to me (not only constructing but also resupplying these boxes), and again it won't have anywhere near the coverage of gas stations.
The whole point of a range extender is to completely alleviate range anxiety and let you drive anywhere today's cars can when you feel like paying for it.
"I f***ing cannot play Halo 2 multiplayer. I cannot do it." -- Bungie Technical Lead Chris Butcher
Tesla Motors Reports Higher-Than-Expected Q4 Earnings, Slims Loss
February 19, 2014, 7:46 PM
Tesla Relieves Model S Drivers of Road Trip Anxiety with Coast to Coast Superchargers
January 27, 2014, 10:34 AM
Tesla Repays $465 Million DOE Loan 9 Years Early
May 22, 2013, 10:20 PM
Ford, Toyota, and Universal Pictures Celebrate "Back to the Future Day' in Style
October 21, 2015, 4:19 PM
Consumer Reports Flexes Muscle, Hits Slumping Tesla Motors Stock
October 20, 2015, 4:13 PM
Debunked: Beneath the Lies, Nigerian "Pee Generator" Is Still Pissing Into the Wind
October 19, 2015, 7:53 PM
Hot Air? President Obama, G7 Pledge to Eliminate Most Fossil Fuel Use by 2100
June 8, 2015, 5:40 PM
Study Predicts Self-Driving Vehicles Could Rake in Billions
March 6, 2015, 8:34 AM
Dual-Motor Tesla Model S P85D's "Insane Mode" Shocks Passengers
January 28, 2015, 11:18 PM
Latest Blog Posts
Sceptre Airs 27", 120 Hz. 1080p Monitor/HDTV w/ 5 ms Response Time for $220
Dec 3, 2014, 10:32 PM
Costco Gives Employees Thanksgiving Off; Wal-Mart Leads "Black Thursday" Charge
Oct 29, 2014, 9:57 PM
"Bear Selfies" Fad Could Turn Deadly, Warn Nevada Wildlife Officials
Oct 28, 2014, 12:00 PM
The Surface Mini That Was Never Released Gets "Hands On" Treatment
Sep 26, 2014, 8:22 AM
ISIS Imposes Ban on Teaching Evolution in Iraq
Sep 17, 2014, 5:22 PM
More Blog Posts
Copyright 2016 DailyTech LLC. -
Terms, Conditions & Privacy Information