Thursday, February 27, 2014

Tesla Considers Texas For Massive Electric Car Factory

Electric auto maker Tesla Motors said Wednesday that it is looking to build a $5 billion "Gigafactory" to help build its first, mass market electric vehicle--potentially putting 6,500 jobs into Texas. Tesla said that Texas--along with Nevada, Arizona, and New Mexico--is on it short list for its factory, which it says will be used to massively scale production of both lithium batteries and other components for an upcoming, mass market electric vehicle. Tesla did not say how it will select a final site for the factory, but said it would power the factory with renewable energy like solar and wind, and that it expects to product more lithium ion batteries annually at that factory than were produced across the entire world in 2013.