Gigafactory

(cont'd)

Tesla's production goal is to turn out half a million cars per year by 2020. To turn out electric cars (EV's) at that rate, they need a big--very big--battery factory. Construction on it started a year ago in Nevada.

"In order to produce half a million cars a year, we would basically need to absorb the entire world's lithium ion production. That is why we are building the Gigafactory. This is a vital element," CEO Elon Musk said last month at the Model 3 event."

Giga probably refers to big. This factory will have the world's largest building footprint, 10,000,000 square feet. It will use only wind, solar, geothermal power; no diesel generators, natural gas, or fossil fuels of any kind.

CEO Elon Musk's talk at the Model 3 unveiling (below) demonstrates a reason why many are such Musk fans. From his point of view, he's saving the earth and humanity. It's the heart of the branding of all his companies, and he's taken immense risks to advance his cause.