What Is Better Than One

What Is Better Than One "Giga Factory" Site? How About TWO "Giga Factory" Sites!

By now we have all heard about Tesla's plans for a "Gigafactory" in be built in one of four US states - Arizona, Nevada, New Mexico or Texas; creating 6,500 new American manufacturing jobs.

Tesla's

Tesla's "Gigafactory" Timeline

Now it appears Elon Musk is ready to "thin the herd" by naming two winners; well at least quasi-winners.

Apparently fearful of bureaucracy and red tape, Bloomberg is reporting that Tesla is going to choose two sites for their new super battery manufacturing facility and take development of both sites all the way up to ground breaking.

“What we’re going to do is move forward with more than one state, at least two, all the way to breaking ground, just in case there’s last-minute issues. The No. 1 thing is we want to minimize the risk timing for the Gigafactory to get up and running.” - Tesla CEO Elon Musk

It is unclear what ultimate purpose the 'losing' site would serve, or if Tesla could recoup their R&D dollars there but the company is saying it is worth the investment.

“We will end up spending more money than would otherwise be the case to minimize the timing risk,” Mr Musk said, while noting that Tesla may need more than a single "giga factory" in the future.

We expect to learn more about Tesla's battery manufacturing plans and potential site selection when the company reports 1st quarter earnings on May 7th.

Bloomberg