At Tesla’s annual shareholder meeting, founder and CEO Elon Musk said the company eventually plans to build 10 to 20 “gigafactories” capable of producing both cars and lithium-ion batteries.
At Tesla’s annual shareholderTesla — now in the business of making electric vehicles, batteries, and solar panels — is currently building its first gigafactoryoutside of Sparks, Nevada. That plant, which will be more than three times the size of New York City’s Central Park, will begin battery production this year. In 2018, the factory is expected to produce more lithium-ion batteries annually than were produced globally in 2013. The Nevada gigafactory is currently devoted to producing only batteries.