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Tesla Won’t Pick Battery Plant Site Till Year End
Tesla Motors Inc. CEO Elon Musk tells shareholders the electric car company won't choose the first site for its battery "gigafactory" until about the end of the year. A decision had been expected as early as this month.
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Tesla Motors Inc. CEO Elon Musk tells shareholders the electric car company won't choose the first site for its battery "gigafactory" until about the end of the year. A decision had been expected as early as this month.
Musk also says the company may consider as many as two other locales in the western U.S. for additional plants. Tesla is considering sites in Arizona, California, New Mexico, Nevada and Texas.
The company sold about 22,500 of its $75,000 Model S sedans last year and expects to boost deliveries to 35,000 cars this year. Tesla is preparing to launch its Model S-based Model X electric crossover late this year.
Plans to add a lower-priced, higher-volume electric sedan within three years will hinge upon opening the first gigafactory by 2017, Musk says. He reiterates that the big facilities will drive down the cost of lithium-ion batteries for EVs by 30%.
Musk tells shareholders he will continue as Tesla's CEO into 2018, then assess whether to continue in that role. He also heads Space Exploration Technologies Corp. and solar panel supplier/installer SolarCity Corp.
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