Tesla Gigafactory

Tesla Motors is an American automotive company that designs, manufactures, and sells electric cars, electric vehicle components, and battery products purposely designed for cars. Tesla first gained its fame and popularity when they first produced the Tesla Roadster, the first fully electric sports car. After, Tesla started to launch the Model S, the world’s first premium electric sedan. The company is expanding its manufacturing footprint into other areas, including in Tilburg, the Netherlands, where it has an assembly facility, and Lathrop, California, where it has a specialized production plant. Tesla wanted to reduce the costs of lithium ion battery packs, so Tesla and strategic partners like Panasonic have begun to plan out an extensive factory. Located in Nevada, Tesla and Panasonic (along with other minor companies) have started constructing the Tesla Gigafactory. The gigafactory will soon expedite the mass-market of affordable vehicles. The factory will also build and produce battery packs designed for the use in stationary storage. This will help improve robustness of the electrical grid, reduce energy costs for businesses and residences, and provide a backup supply of power. By 2020, the gigafactory will produce more lithium ion cells than all of the world’s combined in 2013. One week ago on Tuesday May 24th, Tesla Motors Inc, (TSLA) opened at $215.60 on the stock market. One week later, the stock opened at a value of $223.23, an increase of almost ten dollars. Over the course of a few days, the stock increased in a value of 1.04%. This month, many stocks including Google (GOOG) having been rising in value while other companies like Facebook Inc. (FB) and Apple Inc. (AAPL) have not been doing so well. Amazon (AMZN) has been having a high trend beating all the other supply stores including Costco Wholesale Corportation (COST) because of online shopping. Other stocks like Chipotle Mexican Grill (CMG) has dropped from $450.00 to $440.00 have been looking gloomy. Gas companies like Exxon Mobil Corporation (XOM) have been staying sideways. The first, second, and third place people in the Admission Masters Invetopedia stock competition are Will Patterson, Dan Lim, and Brandon Kim, each gaining more than 1% of their account value in a course of two weeks.

One Comment

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