Tesla to Hold its Gigafactory Celebration Next Month

The US EV maker will host a event on 29th July 2016 to celebrate the opening of its Gigafactory.

Tesla Motors will hold a“grand opening” event for its under-construction huge battery manufacturing plant outside the city of Reno in Nevada on the 29^th July 2016. The American electric vehicle maker revealed that date in an email to consumers who are winners of tickets to the celebration by referring over 5 customers in the company’s vehicle referral program.  A spokesman of Tesla confirmed that email but didn’t offer other information regarding the ‘Gigafactory’ event.

The email was shared on Reditt and the automaker confirmed with the publication Fortune that a consumer-focused launch event will be held in that night. The facility would not probably be entirely completely inside the upcoming 2 months, but the company has been holding smaller events in regions where the facility where building is complete.

SolarCity and Tesla hosted Nevada’s law makers for talks regarding the future of solar power in Nevada. The plant, which will be built at a cost of $5 billion to establish, was just  be 14% completed at the start of May, reported Bloomberg. The EV manufacturer is collaborating with the Japanese battery maker Corporation Panasonic to supply battery manufacturing equipment to it and share of financing.

Despite of the ongoing building of the facility, it is already manufacturing batteries that the company is delivering to companies, utilities and owners of buildings. These battery systems, which the California based organization launched 12 months ago, can be employed to store solar power at night and manage the energy grid in a better manner.

The company is establishing the facility to manufacture huge amounts of low-cost batteries for its upcoming electrically powered vehicles. It hopes to  cut down its battery costs by one-third least. The organization’s upcoming vehicle, Tesla Model 3 will be offered at a cost of $35,000, which is very lower when compared to the Model S price of $150,000.

In April, the company launched the mass-market EV, and rapidly racked up around 400,000 reservations for the vehicle. To fulfill the high levels of demand, the automaker has stated it will accelerate the car production in a considerable manner.

The automaker raised a sum of $1.7 billion soon in a follow-on offer to finance its rapid Model 3 production. The battery machinery used in the organization’s facility should expand the lithium-ion battery manufacturing capacity capacity. The facility at its own will cover a space of 5.8 million square feet.

The company has rapidly forwarded its objective to manufacture half a million automobiles by 2018, 2 years before than estimated. It will release its Model 3 in 2017. To do so, the automaker will need a very large number of low-cost batteries. The huge Tesla factory will probably be producing at its full capacity by 2020, revealed a website. It will not only produce batteries to power EVs, but also manufacture stationery battery systems for storing solar energy at businesses and homes.