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Gigafactory by Tesla Will Revolutionize the Electric Vehicle Market

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Tesla sure is moving up really fast under the leadership of Elon Musk and is all set to show us the future of electric cars’ manufacturing via ‘gigafactory’ that is supposedly going to revolutionize the driving habits by making electric cars the mainstream and shall be powered by wind and solar energy. According to the news, Tesla is going to announce the start of building a factory in the Nevada desert.Gigafactory by Tesla 2

The factory will cost $5 billion and shall cover an area that is equivalent of 174 football fields and shall begin working in 2017 while being capable of producing more lithium ion batteries per year than were produced all over the world in 2013. The factory, it is being said, will produce enough batteries to power up 500,000 vehicles per year by the decade’s end.Gigafactory by Tesla 5

According to an anonymous source, this factory will result in reduction of battery costs by about 30% since it will be running on solar and wind energy. However, Nevada’s elected leaders are to deliver the incentives, economic in nature, which they had promised for this project to continue. If all goes well, the factory will begin its operations at an industrial park outside Reno. The factory will result in providing jobs for about 6,500 persons.Gigafactory by TeslaGigafactory by Tesla 3

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This factory will serve as a milestone when it comes to making electric vehicles the mainstream vehicles. For as of now, the EVs are not really in much of a demand. Elon Musk had announced earlier that the company will be spending millions to come up with two sites in two different states before it chose a winner. So, Tesla has basically made it a competition in order to gain more incentives.

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