REPORT: Tesla Chooses Nevada For Site Of Its Massive Battery Factory

CNBC is reporting Tesla has chosen Nevada as the site of its Gigafactory.

“We look forward to meeting with Gov. (Brian) Sandoval and other legislators in Carson City at 4 p.m. tomorrow to announce a major economic development,” a Tesla rep told Business Insider.

The Gigafactory is a critical piece of CEO Elon Musk’s plan to make a mass-market Tesla car, and lower the cost of carbon-neutral power. Musk has said he intends to double the world’s supply of lithium-ion batteries by 2020 and thus drive the price of the power packs downward. He’s also said he plans to build multiple Gigafactories in the future.

Tesla had already broken ground on a prospective site outside Reno earlier this summer that only bore the name “Project Tiger.” The Tahoe Reno Industrial Center currently boasts e-commerce facilities owned by Apple, Amazon, Barnes & Noble, and Zulily.

Tesla’s facility, which is expected to employ 6,500 workers is estimated to cost up to $US5 billion. CNBC says specific terms of the deal with the state are still being worked out, and that it could be a week before they’re announced.

Dow Jones also reported Nevada was chosen.

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