Tesla New Gigafactory: Beginning of a Bright Future for Electric Vehicles

Tesla built a new $5 billion Gigafactory to minimize the expenses when producing lithium-ion batteries. This means a lower cost in the production of battery cells, which will begin in 2017, used in electric vehicles, such the ones produced by Tesla.

A number of media outlets were present during the opening of Tesla's new Gigafactory last July in Nevada even though only 14 percent of the structure has been finished and the rest would be completed in 2020. The new battery cell manufacturing will start in 2017 and the Tesla Model 3s will be produced at around 500,000 units per year starting from 2018.

The company's CEO Elon Musk mentioned that the scale of production in the Gigafactory will give Tesla enormous savings and a 30 % reduction in the final cost of battery manufacturing. Another add-on is the fact that the economies of scale will be vastly improved. The lithium-ion battery price will be lowered to $130 per kWh from the current $190 kWh.

In the meantime, the manufacturer of Nissan LEAF is winning the battle for the electric vehicle market. Nissan-Renault has sold around 100,000 EVs from August 2015 to August 2016, making it more successful when compared to Tesla's 50,580 EVs sold last year. That's below ten percent of all the electric vehicles sold all over the world.

Besides the minimum EV sales, other success stories from the company still helped it grow bigger. Tesla has introduced the Supercharger Network back in 2010 and it is being held as the planet's fastest-charging solution that allows convenient long-distance travel.

Supercharging has helped Tesla drivers across America, Spain, China, and Japan. There are now 4,600 superchargers all over the world that provide an efficient charging network for 160,000 Tesla electric vehicles.

Tesla car owners will continue to have free supercharging as long as their vehicle is in top condition. The new Gigafactory is another addition to the electric vehicle commitment from the company, which is very good news indeed to Tesla drivers all over the world. There are currently 160,000 drivers of EVs from Tesla and most of them are very loyal customers.

The company maintains a slew of very important brand advocates and one of them is to reduce carbon emission around the globe. The 160,000 Tesla owners have been projected to grow to about 400,000 in the coming years and the company has plenty of work to be done.