Musk Sees Need for Hundreds of Battery ‘Gigafactories’
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Tesla Motors Inc.’s Elon Musk said the need for lower-cost batteries for autos and power storage means there will need to be hundreds of “gigafactories” like the one the carmaker is planning to build.
The electric-car company based in Palo Alto, California, anticipates the battery factory will reduce the cost of lithium-ion cells by more than its initial guidance of 30 percent, Musk said. He spoke yesterday at the World Energy Innovation Forum, an annual conference hosted by Tesla board member Ira Ehrenpreis.