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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.

According to Tesla, 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.

For Q4 2013, 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. 

Source: Tesla Motors

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RE: There arent that many rich men
By Spuke on 2/27/2014 2:35:37 PM , Rating: 2
Not really...from
Not really? You just proved the other posters point. LOL! Like he said, Musk hasn't raised his workers wages so they can afford the cars they build. Musk is no saint and no revolutionary, he's a just guy that that's trying to carve out a niche to make some money from. He found one, make EV's for the wealthy. Sounds good to me. But you clowns think he's doing something just for you. LOL!

1. You can't afford the Model S.
2. You won't be able to afford the Model X either.
3. The Model E will also be outside of the magic DT $20,000 price point too. Therefore you can't afford that one either.

Why are so many of you swinging from Musk's potato sack?

By flyingpants1 on 2/27/2014 4:25:53 PM , Rating: 2
Musk hasn't raised his workers wages so they can afford the cars they build.


RE: There arent that many rich men
By SPOOFE on 3/1/2014 12:06:07 AM , Rating: 1
Musk is no saint and no revolutionary

What kind if fucked up logic is that? Are we to assume you only buy things from companies that ARE run by saints? Which companies might those be?

Concession stand workers don't get paid enough to fund their own summer blockbusters. Pilots don't make enough to buy their own 747. Doctors don't get paid enough to buy their own hospital. Physicists don't get paid enough to buy their own Large Hadron Colliders.

Yet Musk is a scumbag because he has employees that can't afford a premium car?

Look, it's one thing to think that his product isn't for you, but Christ, you Tesla haters make up some of the stupidest shit in your criticisms.

"I modded down, down, down, and the flames went higher." -- Sven Olsen

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