28 Feb '14, 12pm

The Tesla Gigafactory: A game changer for energy, EVs

The Tesla Gigafactory: A game changer for energy, EVs

Tesla is back in the news again, this time announcing plans for a Gigafactory, which could transform the power industry as much as advance its electric car. The company plans to start construction of the world's biggest battery factory next year, up and running in 2017. The goal is to quickly bring down the cost of batteries — 30 percent lower per kilowatt cost in the first year - to produce a "compelling, affordable electric car in about three years," and accelerate battery innovation — a game-changer for electric cars and the entire energy storage industry. Musk says the retail price for the Model S will be cut by half from the current $79,000. CEO Elon Musk expects to produce batteries for 500,000 vehicles by 2020 at the 30 gigawatt factory — a gigantic 10-million-square-foot space that employs some 6,000 people. Tesla says its choosing between Nevada, New Mexico, Arizo...

Full article: http://www.greenbiz.com/blog/2014/02/28/tesla-gigafactory...

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