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Tesla Will Build Huge New 'Gigafactory'

Tesla Motors has announced plans to build a factory that will drastically reduce fuel-cell costs and ultimately produce more lithium-ion batteries per year than the total amount cu... More Tesla Motors has announced plans to build a factory that will drastically reduce fuel-cell costs and ultimately produce more lithium-ion batteries per year than the total amount currently produced worldwide. The announcement to build a 500- to 1000-acre “Gigafactory” came just a day after Consumer Reports named the Tesla Model S the Best Car of the Year. Stock shares since then have risen roughly 20%, giving Tesla a market value of more than $31 billion. Less

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