Tesla Motors and Panasonic Announce $5 Billion Gigafactory

By Mathew Turner at the Inquisitr 08/01/2014

tesla model s feature


In a $5 billion joint venture, Tesla Motors and Panasonic will employ a combined workforce of 6,500 workers at a facility designed to produce lithium-ion power cells for Tesla’s electric vehicles. With projected increasing demand, Tesla’s move is designed to cut consumer costs by manufacturing the expensive power cells here in the United States as opposed to overseas, allowing the company to reap the benefits of a more reliable supply chain so it can meet increasing global demand for its products. The catch? Tesla has yet to decide on a location for its new factory, but there are a few top contenders. Read the full story at the Inquisitr.

This entry was posted in Albuquerque, Business, economic development, economy. Bookmark the permalink.

Leave a Reply

Fill in your details below or click an icon to log in:

WordPress.com Logo

You are commenting using your WordPress.com account. Log Out / Change )

Twitter picture

You are commenting using your Twitter account. Log Out / Change )

Facebook photo

You are commenting using your Facebook account. Log Out / Change )

Google+ photo

You are commenting using your Google+ account. Log Out / Change )

Connecting to %s