Tesla Sees 6,500 New Jobs at Gigafactory

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Feb. 26 (Bloomberg) –- Bloomberg’s Olivia Sterns reports on Tesla’s plans to create a new “Gigafactory.” She speaks on Bloomberg Television’s “Street Smart.” (Source: Bloomberg)

Details about their plans to build an enormous new factory, pretty cool, it will be one of the world's largest battery factories with tesla trying to scale up production, building the batteries having been a challenge, this is their solution and they say that they will be investing $4 billion to $5 billion to build the factory.

Earlier today they had a bond sale and said the profits from that would go toward building this new factory.

The factory would be able to help tesla scale up to produce 500,000 cars per year, creating about 6500 jobs, it is going to bring down the costs of producing those battery packs by 30% over the first year.

Tesla has currently been outsourcing the battery packs, but this new factory is their solution.

They themselves have invested $2 billion overall by 2020. the stock is up 70%, year to date.

Sticking with tesla, yesterday the company's model

This text has been automatically generated. It may not be 100% accurate.

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