'Gigafactory' Will Allow Tesla To Provide Batteries For 500,000 Vehicles By 2020

By Gregory Fink

PALO ALTO, Calif. (AP) — Electric car maker Tesla Motors said Wednesday it’s considering sites in Nevada, Arizona, New Mexico and Texas for a massive battery factory that would employ around 6,500 people.

The company didn’t immediately name the locations it’s considering in those states. Tesla plans to start construction this year and complete the factory — which it dubs its “Gigafactory” — in 2017. Tesla’s share rose nearly 3 percent to $259.90 in after-hours trading.

The factory would supply lithium-ion batteries to Tesla’s Fremont, Calif., assembly plant.

Palo Alto-based Tesla says it will invest $2 billion in the 10 million square foot …read more

Source: Huffington Post Green

    

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