Tesla Confirms Reno is Gigafactory Finalist

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DETROIT (AP) - Electric car maker Tesla Motors says it is preparing a site near Reno, Nevada, as a possible location for its new battery factory, but is still evaluating other locations.

In a statement, Tesla says it broke ground on the Nevada site in June, and adds that it will decide on the final location for the $5 billion factory in the next few months.

California, New Mexico, Arizona and Texas are also in the running for the factory. Competition is intense for the plant, which Tesla says could employ 6,500 people by 2020.

Tesla wants the factory to supply batteries for its Model 3 electric car, which is set to go on sale in 2017.

Earlier Thursday, Tesla and Panasonic Corp. announced that they will collaborate on the battery factory.

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TOKYO (AP) - American electric car maker Tesla Motors Inc. is teaming up with Japanese electronics company Panasonic Corp. to build a battery manufacturing plant in the U.S. expected to create 6,500 jobs.

The companies announced the deal Thursday, but they did not say where in the U.S. the so-called "gigafactory," or large-scale plant, will be built.

The plant will produce cells, modules and packs for Tesla's electric vehicles and for the stationary energy storage market, employing 6,500 people by 2020.

Under the agreement, Tesla, based in Palo Alto, California, will prepare, provide and manage the land and buildings, while Osaka-based Panasonic will manufacture and supply the lithium-ion battery cells and invest in equipment for manufacturing.

The project will cut costs to better meet mass production needs for electric vehicle batteries.



 
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