Tesla is considering building up to 5 Gigafactories

Danielle Muoio

Updated 22 February 2017 at 4:20 pm

YouTube/Above Reno

Tesla Gigafactory in Sparks, Nevada.

Tesla is considering building up to five Gigafactories, the company said in its fourth-quarter earnings report on Wednesday.

Tesla is currently building Gigafactory 1 in Sparks, Nevada that is slated to operate in full capacity in 2018. The Gigafactory is Tesla’s massive battery cell production facility.

The automaker said it is currently finalizing locations for two additional Giafactories, potentially three. That means Tesla could have five Gigafactories in total, counting its solar plant in Buffalo, New York that it acquired when it bought SolarCity in a deal worth $2.1 billion.

Tesla CEO Elon Musk said in November that the company was looking to build Gigafactory 2 somewhere in Europe and would decide on a location in 2017.

NOW WATCH: Elon Musk came up with an ingenious solution to a Tesla owner’s Twitter complaint in just 6 days

The post Tesla is considering building up to 5 Gigafactories appeared first on Business Insider.

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NOW WATCH: Elon Musk came up with an ingenious solution to a Tesla owner’s Twitter complaint in just 6 days

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