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Tech

The vision of Tesla’s ‘Giga Factory’

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Opening sequence

Tech

The vision of Tesla’s ‘Giga Factory’

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COMING UP:The vision of Tesla’s ‘Giga Factory’

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Transcript

00:00:00
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00:00:02
Tesla, the luxury electric car maker has had a rough ride in the last few weeks. But today Chief Executive Elon Musk said the company should go faster and not slow down. I'm Joe White, Transportation Editor with Reuters and I'm here in Reno, Nevada, where Tesla is building a giant battery factory designed to produce batteries for 500,000 cars a year, as well as battery packs for energy storage at home and in factories.
00:00:25
It's hugely ambitious, this is a giant installation out in the middle of the desert that's got 1,000 people working on it right now. Musk today, in an unusually expansive press conference, said that he believes that Tesla could ultimately build a million or even a million and a half cars a year using this gigafactory as the central production point for batteries.
00:00:43
And eventually the company could have gigafactories in Europe or China where raw materials go in one end and cars and battery packs come out the other. It's a vision very similar to the old Henry Ford idea of a factory where pig iron came in one end and Model Ts came out the other.
00:01:01
Keys for Tesla in the next week or two are can they put to rest concerns about the safety of its auto pilot system? That's being investigated by the National Highway Traffic Safety Administration. Equally crucial will be showing in its second quarter earnings that come out August 3rd that it is on a path toward becoming cash flow positive, at least in its operations.
00:01:22
And start to generate the money to fund the product vision that Musk has outlined for shareholders.