Wednesday, January 18, 2017

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S&P500
2267.89
-6.75
-0.30%
NASDAQ
5538.73
-35.39
-0.63%
NYSE
11196.29
-30.88
-0.28%
GOOG
804.61
-3.27
-0.40%
YHOO
41.99
-0.28
-0.66%
AAPL
120
+0.96
+0.81%
AMZN
809.72
-7.42
-0.91%
FB
127.87
-0.47
-0.37%
BPOP
43.06
-1.34
-3.02%
EVTC
17.55
-0.35
-1.96%
OFG
12.85
-0.25
-1.91%
FBP
6.46
-0.28
-4.15%
GTS
20.4
-0.69
-3.27%

Tesla Begins Making Battery Cells at Massive Nevada Factory

By on January 5, 2017

Tesla Motors Inc. CEO Elon Musk speaks at the unveiling of the Model 3 at the Tesla Motors design studio. (AP Photo/Justin Prichard)

Tesla Motors Inc. CEO Elon Musk speaks at the unveiling of the Model 3 at the Tesla Motors design studio. (AP Photo/Justin Prichard)

RENO, Nev. – Tesla Motors says it has started producing lithium-ion battery cells at its $5 billion factory in Nevada.

The company says it began making high-performance cells in December and production started Wednesday for cells used in Powerwall energy-storage products.

Tesla plans to start making batteries for its Model 3 sedans later this year.

The massive Gigafactory outside Sparks is coming online in phases, with a goal of full operation in 2018.

Officials say it could almost double the world’s production of lithium-ion batteries, making them more affordable as the company looks beyond the luxury niche market.

The electric carmaker says it has more than 850 full-time employees, plus more than 1,700 construction workers.

Nevada has promised Tesla $1.3 billion in state tax incentives based on projections that it’ll employ 6,500 people at full production.

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