Tesla is Investing Millions in its Giant Gigafactory and Hiring Hundreds

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Tesla is investing millions in its giant Gigafactory, as well as hiring hundreds of workers to produce the company’s more affordable electric vehicle. In a blog post on Tesla’s website, Tesla CEO Elon Musk said that the company has been getting ready for the production of their all-electric car, the Model 3.

In an appearance before Nevada’s state legislature, Musk said he’ll be producing more batteries at a lower cost at the new plant. “The Gigafactory is an extremely large factory by any standards, and we anticipate it will have a capacity of about 150-gigawatt hours per year.” 

He added that Tesla expects to see a 30 percent reduction in battery costs once it starts manufacturing its lithium-ion cells at the factory.

That would bring the cost down to about $100 per kilowatt-hour of battery storage. He also stated that some of Tesla’s batteries are being produced at its plant in Fremont, California. 

The Nevada legislature will be voting on new tax breaks for the company today, which would give it over $1 billion dollars worth of savings. 

Nevada Governor Brian Sandoval signed a bill for an additional $195 million dollars in incentives, according to the Associated Press. Tesla has already received over $800 million dollars worth of incentives from the state to build its Gigafactory there.

The company also expects to hire as many as 6,500 people at the factory and as many as 16,000 people in the surrounding area. The plant is expected to start producing batteries before the end of 2017, but production of Tesla’s mass-market car won’t begin until sometime next year.

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