Tesla gigafactory project, US
Name and Location
Tesla gigafactory project, Nevada, US.
Client
Tesla Motors.
Project Description
The project involves the construction of the world’s largest and most advanced lithium battery factory.
The factory will cover ten-million square feet, an area equal to 174 football fields.
The factory will produce 50 GWh/y in battery production by 2020, enough for 500 000 Tesla cars, which are powered by renewable energy.
The factory is a key part of Tesla’s plan to lower battery prices enough – and to produce enough of them – to launch its Model 3, a mass-market electric car, in the next two to three years.
The Model 3, expected to cost about $35 000, will join luxury sedan Model S and the upcoming sports utility vehicle
Model X, as part of Tesla’s line-up.
Value
The factory will cost an estimated $5-billion to build.
Duration
The factory is expected to open in 2017, with full production expected in 2018.
Latest Developments
Tesla received incentives valued at an estimated $1.3-billion, of which $1.1-billion are in the form of tax abatements, which will result in Tesla paying no property or payroll taxes for ten years and no local sales or use taxes for 20 years. The other nearly $200-million are in the form of tax credits.
Tesla is required to invest a minimum of $3.5-billion in the state within ten years. If it fails to do so, it will have to pay back the abatements with interest.
Key Contracts and Suppliers
None stated.
On Budget and on Time?
Not stated.
Contact Details for Project Information
Tesla Motors, tel +1 650 681 5000 or email press@teslamotors.com.
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