Reno Selected For Tesla Motors Battery Factory

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Reno Selected For Tesla Motors Battery Factory

Posted by samzenpus on Wednesday September 3, 2014 @08:33AM from the start-it-up dept.

First time accepted submitter Mikenan writes Tesla has finally decided that it will build its battery "gigafactory" in Nevada, sources say. "That's a go, but they are still negotiating the specifics of the contract," a source within the Nevada's governor's office told CNBC Wednesday afternoon. The source noted that it could be a week before the deal is official. Nevada is planning a press conference Thursday in Carson City.

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CARson City by MildlyTangy · 2014-09-03 08:35 · Score: 5, Funny

Now we know why Nevada was chosen.
CARson City.
Makes total sense.
Re:Stop Making Up Words! by Dynotrick · 2014-09-03 08:42 · Score: 5, Funny

WTF is a "gigafactory?"
Is it somehow different than any other kind of factory? Or is it a made-up word designed to satisfy some narcissists ego?
It's the opposite of a nanofactory.
Re:This company would be nowhere without handouts. by AaronW · 2014-09-03 08:58 · Score: 5, Interesting

Tesla is making over 25% profit on every car sold. All of that money is going into growth and expansion. While they get emission credits, they don't rely on them since they are shrinking.

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Re:California Betrayed by LWATCDR · 2014-09-03 09:00 · Score: 5, Interesting

Tesla has the car factor in CA and Elon has a major SpaceX factory there as well.
Betrayed?

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Re:That's not what MotherJones says by kellymcdonald78 · 2014-09-03 10:51 · Score: 5, Informative

It's possible to generate 25% margin on each car, yet still have the company post a loss (Learn to read an Income Statement). All it requires is the company to re-invest all of that margin (and more) say... building a Gigafactory or other R&D or expansion activities. When you're in a growth phase like Tesla and your overriding objective is to scale the business, you would expect the company to be running on the edge of profitability, simply because every dollar in profit is a dollar that can be used to fund your expansion.