Elon Musk: A thermostat-sized box may one day power your house
5:17p ET September 17, 2014 (MarketWatch)
By Jennifer Booton, MarketWatch
NEW YORK (MarketWatch) -- It's easy to get lost in the numbers that swirl around a project as massive as Tesla's $5 billion gigafactory. But by sitting back and looking outside of the box, the potential ground-level benefits of such an immense factory begin to set in.
The numbers might make you woozy: a $5 billion investment, a $1.25 billion tax break in Nevada, 6,500 new jobs, 50 gigawatts of battery storage by 2020, 500,000 electric cars per year.
What this really means is the massive factory -- which Tesla Motors Inc. (TSLA) CEO Elon Musk and his first cousin, SolarCity Corp. (SCTY) CEO Lyndon River, hinted Wednesday at a private conference may be the first of several perhaps larger plants -- is that an increased level of manufacturing scale will improve the efficiency and affordability of lithium-ion batteries.
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-Jennifer Booton; 415-439-6400;
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