Tesla Planning At Least Two Sites for Gigafactory

Tesla Planning At Least Two Sites for Gigafactory

California-based Tesla Motors is planning to break ground on at least two sites before making a final decision about which state will host its “Gigafactory.”

Tesla’s ability to produce vehicles will be greatly enhanced once the battery manufacturing facility is completed. When the company announced its plan to build a battery factory in February, Musk said Arizona, Nevada, New Mexico and Texas were all possible sites. Musk said this week that he is close to naming at least two sites, but that the company won’t announce a final decision until after groundbreaking “in case there’s last minute issues,” Musk told Bloomberg.

“The No. 1 thing is we want to minimize the risk timing for the Gigafactory to get up and running,” he said.

With the Gigafactory up and running, Tesla expects to achieve mass market production figures, which is an essential component in Musks’s plan to launch a more affordable model in three years. Before that, the company will sell its Model X crossover, which will share its platform and electric drivetrain with the Model S sedan.

In February, Tesla estimated that it will cost $5 billion to build the plant, which will bring as many as 6,500 jobs to the state that it ultimately settles in.

[Source: Bloomberg]