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Upcoming Tesla Gigafactory To Produce 500,000 Electric Vehicles Annually

Usually, cars and their respective parts are produced in factories. But when Elon Musk wants to produce something, a factory isn’t good enough. No, no. Rather, a so-called “Gigafactory” is more appropriate.

This is because Tesla Motors plans to produce 500,000 electric vehicles annually by 2020, along with 35 GWh of battery cells and 50 GWh of battery packs annually in the same time frame. The labor will be conducted by an army of workers; 6,500 to be exact. The project is so massive, that Tesla expects to produce more battery cells by 2020 than the entire continent of Asia does today.

One would think that such a facility would need its own power plant just to run. But seeing as this is Tesla, the Gigafactory will be powered by both wind and solar energy instead of something polluting such as coal.

As of yet, no location has been chosen for the Gigafactory; however, Nevada, Texas, Arizona, and New Mexico are in the running. No matter the location, Tesla is committed to directly investing approximately $2 billion through 2020. Add this to the $2-3 billion already incoming through partners of Tesla Motors and you are looking at between $4-5 billion dollars.

Keeping in mind the rise of the Model S, as well as the future plans to produce a Model E (a lower-cost alternative to the Model S), Tesla believes it can lower the cost of a battery pack by up to 30% once the Gigafactory is up and running.

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