Tesla may have plans to open up to 3 more Gigafactory locations in the United States. Tesla’s Gigafactory is designed to make lithium ion batteries to place in its vehicles and products. The current Gigafactory located in Nevada was criticized for it cost, but it might be showing its worth.
Last, week Tesla said that it plans to “finalize locations” this year for up to three new Gigafactories. That could bring the total up to five. Tesla currently has a Gigafactory in Nevada which is still under construction, and plans to open a ‘Gigafactory 2’ in Europe.
Expanding and building new locations plays into Tesla’s goal to make electric vehicles available and affordable for all. The company is on schedule to be manufacturing Model 3s by July, and more Gigafactories would make this process more efficient. Tesla also plans to double the number of Super Chargers in 2017. Tesla also has to boost production of their solar panels for their recent acquisition, Solar City.
One problem the company may face, however, is capital. Elon Musk has said that it may be needed to raise for capital. Musk said, “No capital needs to be raised for the Model 3, but we get very close to the edge.”
No doubt Musk and his company have big plans and changes in store as the world moves forward, but it may take a little more money to get there.