Tesla Motors has recently publicized the details about their future project of “giga factory”. It is estimated that the plan may require an investment of about $5 billion which is a much higher amount as compare to the one that was primarily expected by the analysts, reports Left Lane News.
The 10 million sq. ft. long factory sites in the four states of Nevada, New Mexico, Arizona and Texas will consume solar and wind power that will be generated by the factory. This project will create jobs for about 6500 people.
The company is expected to start running its production line in 2017. It is anticipated that 50 giga-hour-capacity will be required to reach the sales goal of 500,000 cars per year with the production of battery packs as well.
A major reduction in the cost of battery will be required for the production of this huge number of cars.
Source: Left Lane News
