- Tesla (TSLA) has turned positive in AH trading after providing details (.pdf) about its gigafactory.
- Tesla predicts the gigafactory will produce enough batteries to supply 500K vehicles by 2020, and that its output will exceed that of total 2013 global battery production. The company also expects the facility will drive down its per-kWH battery costs by over 30% within a year of volume production.
- Facility construction is set for 2014-2015, equipment installation for 2016, and initial production for 2017. The gigafactory is expected to employ 6.5K workers, and require up to 10M sq. feet of space.
- Tesla and its partners will collectively invest $4B-$5B in the gigafactory through 2020. Tesla will directly invest $2B.
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Tesla now +3.2% AH. Gigafactory aims to supply 500K vehicles.
Feb 26 2014, 17:02 ET