It’s costing $5 billion… it will be big enough to hold 100 Boeing 747s…and it will employ 6,500 people.
I’m talking about Tesla’s “gigafactory” in Sparks, Nevada, which company CEO Elon Musk says will spit out lithium batteries “faster than bullets from a machine gun” when it’s completed in 2020.
But he won’t have to wait that long for production to begin, as the monstrous facility is expected to mass-produce enough lithium-ion batteries to power 500,000 electric vehicles (EVs) this year.
To put that in perspective, meeting this goal will demand more than the entire world’s annual production capacity of lithium-ion batteries prior to 2018.
Think that will put pressure on lithium prices?
You bet.
And Tesla’s hardly the only automaker …View the full post at: Musks Gigafactory Gamble Is Creating A Huge Opportunity Here …
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