Tesla Plans to Build World’s Biggest Battery Factoryhttp://www.fool.com/investing/general/2014/02/25/tesla-plans-to-build-worlds-biggest-battery-factor.aspx Oilprice.com
February 25, 2014
Tesla (NASDAQ: TSLA) is set to announce a plan this week to build the world's largest battery factory. The plan will include the involvement of Panasonic and other partners, and it will be so big that Tesla's CEO Elon Musk is calling it a "gigafactory."
The motivation for building the factory is multiple. Tesla has struggled to secure a reliable supply of batteries, and building a large facility will allow it to be able to build its own – a step toward vertically integrating Tesla's electric vehicle business. Tesla could also sell batteries to other EV companies, as well as sell batteries for storing energy storage from renewable sources. This would provide alternative revenue streams for a company that has thus far focused solely on the luxury car market.
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