The decision for the location of Tesla Motors Inc.’s “gigafactory” won’t be out until end of 2014, according to chief executive Elon Musk. The proposal for the expansive battery site was first disclosed in February, aimed at supplying lower-cost lithium-ion cells for Tesla cars and battery packs for home-power storage devices.
Musk remarked that Tesla is readying sites in up to three states “all the way to creating a foundation,” completing plans and gaining local approval. “It might actually be three states that we do it in,” he said during the carmaker’s annual shareholders meeting.
Tesla is planning to increase deliveries of its Model S sedan by over 56 percent this year, expanding beyond the US to China and other international markets.
Musk has remarked Tesla’s target of selling lower-priced EVs in the next three years relies on its gigafactory by 2017. He said that the plans for the battery site are “quite advanced,” adding that talks with Panasonic Corp., about the latter’s involvement in the project happen daily.
Tesla said the gigafactory would cost up to $5 billion to build and will employ up to 6,500 people. The carmaker is considering is sites in Arizona, New Mexico, Nevada and Texas as well as California.