Tesla Gigafactory Establishment Grows Further

The auto making giant is making sure nothing comes in between the establishment of Gigafactory in Nevada while expanding at a very quick pace.

The most recent report regarding the most anticipated battery making plant being built in Nevada by Tesla Motors is that the auto making giant is expanding the business in such a quick pace that it is rather over whelming for the investors and shareholders to grasp. The news suggests that the hybrid car makers have taken up more than three-folds of the land to build the biggest lithium-ion battery making business that it has decided to initiate.

The Gigafactory construction is going towards the direction where the analysts have begun to think that it might just end up being the largest battery making plant in the world. Currently, the plant is covering land of around 2,000 acres while the electric car producer further plans to grow and expand more, in accordance with the developments being made in the region. In the report that has been released by the Wall Street Journal, it has been mentioned that the firm has taken over the land next to Reno.

Furthermore, it should be taken into notice that Tesla was seen to take over a 1,000 acres in the initial stages of production from where it began to grow. A place near Story County, the luxury car makers ended up buying the land that they thought they would need for the production of batteries. However, the auto giants did not stop there and the deal that was signed by them gave them the assurance that in case more land is needed for the purpose of expansion, they will be allowed to acquire it accordingly.

This is what the firm has been doing in the present, and that is buy more than around double the land that it has previously bought to make sure the activities of production face no delay. Other than the initial 1,000 acres, Tesla decided that it needs more land in April where it took over more land and continued to do so in May 2015 as well.

This activity was carried out right after the firm announced the earnings report for the first quarter which made the analysts realize just how much the expenses of the firm must be. The auto makers are also working on a new car which has been deemed as a sports vehicle named the Model X. This production is going side by side with the battery making plant which has raised many concerns from the analysts and investors who are worrying about how long will the firm continue with the expenses touching the sky.