Here is video footage of Governor Brian Sandoval of Nevada & Elon Musk announcing that the Huge Lithium-Ion Battery Gigafactory will be built in the Reno area of Nevada. Elon Musk describes that the Gigafactory will be larger than all the Lithium-ion factories in the whole world ‘combined.’ This is a Huge investment for Elon Musk, where the Gigafactory has a price tag of around 5 billion dollars.
Tesla is rumored to be partnering with Japan’s Panasonic Corp. or South Korea’s Samsung Electronics Co. Ltd. The location of the factory is also yet to be determined, although analysts have bet on New Mexico or Arizona.
Wall Street is likely overestimating the amount of money Tesla would need to build the factory. Estimates have hovered at between $7 billion to $10 billion, but the amount could be as low as $5 billion. Tesla sours premarket to an all time high into the $230’s. Here is more on Tesla and the Gigafactory.