Tesla will build its Gigafactory in Nevada

Article by Christian A., on September 7, 2014

Tesla Motors made the official announcement that Nevada will be the place where it will build the massive battery factory. The final details are still not available, but we do know that the battery factory will be company’s key to the success of its upcoming electric cars. For those who don’t know, Tesla’s plans are to build cheaper and more efficient battery packs as it prepares to roll out the Model 3 in 2017, with a price tag of $35,000.

Accordind to Steve Hill, executive director of Sandoval’s office of Economic Development, Nevada Governor Brian Sandoval will need $1.3 billion in financial incentives in order to help Tesla build its factory. The new Gigafactory is expected to cost up to $10 billion.

If it receives the $1.3 billion which will come in form of tax breaks and abatements, Tesla will need to invest a minimum $3.5 billion in manufacturing equipment and real property in the estate.

According to Elon Musk, Nevada’s incentive package wasn’t the biggest offered to Tesla but they chose it because it can do things quickly. California, Texas, Arizona and Mexico were also in the cards but it appears that Nevada won the competition for the biggest lithium-ion factory in the world.

A part of the cost of the plant will be supported by Panasonic, which will produce ion cells for the battery packs. Around 50% of the investment will be covered by Tesla, while Panasonic will fund up to 40 percent.

If you liked the article, share on:

Comments

Recommended

It is quite common to revive classic cars if you have a lot of extra money. Models like the Jaguar XKSS and Aston Martin’s DB4 GT have been upgraded to...
by - August 21, 2017
Famous designer of certain Ferrari vehicles like the Enzo Ferrari and the P4/5, Ken Okuyama has revealed another one of his designs at the 2017 Pebble Beach Concours over the...
by - August 21, 2017
The current generation of the BMW M3 (F80) sedan isn’t just sporty and luxurious in terms of looks, but also in terms of performance. Because of its athletic appeal, the...
by - August 21, 2017
A lot of us know Singer Vehicle Design and their signature work of reimagining Porsche 911s, and making them look like hot rods from the 70s. They are not alone...
by - August 20, 2017
August 17, 2017 is a sad day for the Dodge Viper, its fans, enthusiasts and its admirers. It is the day when the last Dodge Viper rolled off the assembly...
by - August 20, 2017
Facebook

Youtube Channel

Tip Us
Do you have a tip for us?
Did you film an important event?
Contact us
Newsletter
Subscribe to our newsletter!
Subscribe
Galleries