Tesla and Panasonic to establish world’s biggest battery plant - li ion battery cell
"The Gigafactory being created is to continuously reduce the cost of the ong range battery pack while manufacturing the required quantity, enabling Tesla to achieve its goal of advancing the mass market electric vehicles, "say Tesla's release.
Under the agreement, Tesla will prepare, provide and manage land, construction and utilities while Panasonic will manufacture and supply cylindrical lithium
Tesla, an investment in ion batteries and related equipment, said the plant would require investment of up to $5, employing up to 6,500 people.
But Japanese battery makers have not disclosed key details of how much they will invest in the project.
Earlier, Tesla had discussed Panasonic's involvement in building projects to produce low-end cars.
Later in the decade, Tesla cars needed advanced batteries.
Five states in the United States, California, Nevada, Arizona, New Mexico and Texas are competing for the location of the new factory.
Tesla expects the new plant to produce lithium
With the growth of demand for electric vehicles, manufacturing costs will decline due to the expansion of production scale.
At present, Tesla only produces one model of Tesla sedan.
However, the manufacturer plans to launch Tesla Xcrossover by the end of next year.
A new sedan called Tesla IIIis is expected to be released in 2017.