Tesla reported adjusted earnings of $0.11 a share beating analyst estimates. Tesla delivered 7,579 vehicles in Q2 more than it estimated it would.
Panasonic Corporation and Tesla Motors, Inc. have agreed to plans for the massive Gigafactory to make EV batteries for Tesla EVs and bring down the price of EV batteries and thus the price of electric cars. Because the suppliers will be located at the same huge factory there will be no need for packaging, transportation, inventory costs and duty fees. The factory will also cut operating costs and utilities. Batteries for Tesla cars and storage will be made.
Tesla will deal with buildings and utilities while Panasonic will make cylindrical lithium-ion cells and provide the equipment. They are using a network of suppliers for material. After the cells are made, Telsa will assemble battery modules and packs.
In the meantime, Tesla will continue to buy battery cells produced in Panasonic’s factories in Japan.
The Gigafactory is being created to enable a continuous reduction in the cost of the high mileage battery packs in parallel with manufacturing at the volumes required to enable Tesla to meet its goal of advancing mass market electric vehicles
Panasonic will use approximately half of the planned manufacturing space, while suppliers combined and Tesla will make up half of the fully integrated industrial complex.
Price reductions will be achieved by massive production and manufacturing cells that have been optimized for electric vehicle design, both in size and function,
The Gigafactory will produce cells, modules and packs for Tesla’s EV. The Gigafactory is planned to produce 35GWh of cells and 50GWh of packs per year by 2020.
Tthe Gigafactory is expected to employ about 6,500 people by 2020.
The location has not been announced yet, some rumors suggest the Bay Area, Nevada and Georgia.
Elon Musk Multiple Media Appearances
Tesla CEO Elon Musk appeared recently on The Colbert Report. Colbert gets excited about what he does. A software update will enable Tesla owners to name their cars. Colbert calls Tesla the best damn golf cart.
Elon Musk will play himself in an episode of the Simpson (11/1)in which Mr. Burns tries to kill the Tesla CEO, “The Musk Who Fell to Earth.” Musk will reveal his master password.
Elon Musk in ep 1/11 and not a “kiss ass” celebrity guest star turn: Burns tries to kill him, and we reveal Musk’s master password.
— Al Jean (@AlJean) July 29, 2014