Tesla’s Musk envisions hundreds of battery “gigafactories” image

Billionaire entrepreneur Elon Musk, the CEO and co-founder of California-based electric automaker Tesla, sees a future where low-cost batteries for autos and power storage would be universally available.

But – the need to achieve these affordable Li-Ion packs, that would be used by electric cars and also businesses or home owners who need generate green power and need a way to store it, also prompts the need of hundreds of battery gigafactories – just like the one Musk aims to build in the US.

“I think we can probably do better than 30 %,” Musk, 42, said at the company’s Fremont, California, plant. “There’s going to need to be lots of gigafactories. Just to supply auto demand you need 200 gigafactories,” he said.

Tesla, on its way to develop the line-up from the current Model S luxury sedan to encompass a crossover and a future more affordable sedan, has forecast its soon to be built battery factory would have a huge impact on the battery packs price.

The company is close to decide which site would be chosen to commence the factory’s building, with Musk aiming to break ground at two of the proposed locations for speed and safety reasons. Because of the production capacity, at least initially – until Tesla reaches a higher production volume for its cars, the factory would also supply Li-Ion packs to SolarCity Corp – a vendor of stationary power storage devices and another one of Musk’s enterprises.

Via Bloomberg