Tesla’s Elon Musk is up to something. He is set to revolutionize the world with the new, gigantic factory placed in the Nevada desert. The factory is worth five billion dollars. And it aims to produce high-performance lithium ion batteries by 2018, for Tesla.
CEO Elon Musk and CTO JB Straubel have invited a large group of people to reveal their vision for Tesla. They got the crowd so excited, people cheered and shouted out, overwhelmed with joy and mesmerized by the bold promises made by the two Tesla officials.
The crowd was made, as you would imagine, of the company’s biggest supporters. The “grand opening” of the factory took place close to Reno, Nevada, even though the facility is not ready yet.
The event was partly broadcast on July 29th. It featured a press tour of the industrial complex, part of Tahoe-Reno Industrial Center.
Musk galvanized the company’s investors, customers, and VIPs with his speech. Among other things, he said the factory would revitalize manufacturing in the area. He also pointed out the place needs love and Tesla’s going to give it.
The mega factory is crucial to the company. It is an essential part of what Tesla wants to do – accelerating the world’s transition to clean energy. Tesla’s shares have gone up by almost two percent after the news was broadcast.
The factory should reduce the overall cost of lithium-ion batteries by over thirty percent. This will bring down the cost of Tesla electric cars. Without this kind of investment, Model 3 by Tesla would not be feasible, at a cost of 35,000 dollars.
It is clear many things depend on the success of the facility. The intensity of the moment was felt by everyone present for the grand opening.
The factory measures six million square feet. At this size, it could house ninety-three Boeing 747 planes, or as Musk puts it – 50 billion hamsters.
He also pointed out that the size of the factory corresponds to the size of the world. The purpose is to shift focus from a carbon-producing world to a green energy producing world.
By 2018, the factory will make batteries in quantities large enough to power 500,000 electric vehicles per year. When the factory reaches full production, it will surge to 150-gigawatt hours of battery per year; that’s enough to power 1,5 million electric cars.
Image Source – Wikipedia