From the Web: What Tesla’s new Gigafactory means for electric vehicles

Tesla‘s new Gigafactory opened at the end of July in Nevada, with much excitement from both the media and the general public. Only 14 percent of the massive structure has been built, with the rest of the $5 billion project to be concluded by 2020.

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According to Tesla, battery cell production will start in 2017; by 2018, the Gigafactory should be cranking out cars to the tune of 500,000 Model 3s per year. A big part of Tesla’s need to build the Gigafactory lies in the reduced expenses for lithium-ion battery production it provides.

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