The visionary CEO of Tesla Elon Musk is one hell of a man. Forget about the electric cars and the batteries his company makes; Musk is building a factory so huge that it will largest physical footprint of any building in the world upon completion in 2020.
Tesla’s Gigafactory is where the company will manufacture batteries which will help cut down costs incurred currently by about 30 per cent.
The Gigafactory is being built in the Nevada desert near Reno, Nevada.
Tesla told reporters in the Nevada plant that he plans to have one Gigafactory each “in Europe, in India, in China…ultimately, wherever there is a huge amount of demand for the end product”.
“Where the shipping costs start to become significant, the obvious way to combat that is to at least put a Gigafactory on the same continent,” he said.
The USD 5 billion plant is being built with Panasonic, which invested around USD 2 billion in the plant. Both Panasonic and Tesla will together manufacture batteries.
Tesla is working on renewable technology like no one else. It will now work on electric buses and trucks besides solar-roofing and energy storage.
Musk’s plans, according to Musk himself, will cost Tesla “tens of billions”.
The Gigafactory will be 100 per cent sustainable, generate about 10,000 jobs, and produce enough batteries for making 500,000 electric cars a year and other energy-storage technology.