Tuesday, February 28, 2017

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S&P500
2369.75
+2.41
+0.10%
NASDAQ
5861.9
+16.59
+0.28%
NYSE
11558.35
+17.06
+0.15%
GOOG
829.28
+0.64
+0.08%
YHOO
45.71
+0.16
+0.35%
AAPL
136.93
+0.27
+0.20%
AMZN
848.64
+3.4
+0.40%
FB
136.41
+0.97
+0.72%
BPOP
44.68
+0.33
+0.74%
EVTC
17.25
-0.1
-0.58%
OFG
13.1
-0.15
-1.13%
FBP
6.55
+0.07
+1.08%
GTS
18.81
-0.36
-1.88%

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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