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Industryweek 7297 Tesla Logo
Industryweek 7297 Tesla Logo
Industryweek 7297 Tesla Logo
Industryweek 7297 Tesla Logo
Industryweek 7297 Tesla Logo

Tesla Gigafactory Charging Into Nevada

Sept. 3, 2014
Tesla has chosen Nevada for the site of Tesla's new $5 billion lithium-ion battery plant.

The race to secure Tesla's Gigafactory appears to be nearing the finish line.

The Associated Press reports that Tesla (IW 500/384) (TSLA) has chosen Nevada for the site of Tesla's new $5 billion lithium-ion battery plant.

The official announcement is expected to be made by Gov. Brian Sandoval at 4 p.m. Thursday, Sept. 4 during a news conference held by the state government.

Since early this year, five states --  Arizona, California, Nevada, New Mexico and Texas – have been vying to win the Tesla development that is expected to create 6,500 jobs.

The Gigafactory, which will be created in partnership with Panasonic (IW 1000/41), will create the batteries needed to power the mass-market electric Model III sedan Tesla plans to bring to market in 2017.

The Nevada site where Tesla has been excavating -- the Reno Tahoe Industrial Center -- is the closest location to Tesla's asembly plant in Fremont, Calif. and the company's headquarters in Palo Alto, Calif.

Tesla CEO has said the company will develop two sites in case a problem -- either with funding or development -- arises.

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