Tesla’s continuous success meant that the company had to expand its Gigafactory in Nevada and earlier this year, Tesla reached over $1 billion in construction spending in the factory. However, the increased spending is part of a bigger role as the funding was spent to build only a fraction of the final building as new reports suggest that the company is working on adding another expansion to the building with a new section.
Recent report has suggested that the company has managed to obtain new building permits to build additional foundation and structure to supplement its current 1.9 million square-foot footprint and about 4.9 million square feet of operational space.
Apart from this new section, Tesla is expected to add several other buildings as the company managed to obtain several construction permits. Despite the ongoing construction, several suppliers including Tesla and Panasonic is producing batteries and battery pack at the factory in order to start production of Tesla Model 3 which is expected to be available in near future.
After finishing the ongoing productions, the company is planning on speeding up production of 35 GWh of battery cells and 50 GWh of battery packs in order to support Tesla’s planned annual production rate of 500,000 vehicles in 2018. If these goals seem lofty to you, then you should know that the company is expecting to reach its full production of 150 GWh battery packs output by 2020. With Tesla becoming increasingly popular, such goals shouldn’t be considered as lofty to say the least.
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