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Tesla battery plant

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Apple and Tesla Motors Inc. (Nasdaq: TSLA) Might Have a Secret Plan

By , Associate Editor, Money Morning • @DavidGZeiler -

It now appears that rumors Apple Inc. (Nasdaq: AAPL) had an acquisitive eye on Tesla Motors Inc. (Nasdaq: TSLA) were just that - rumors.

But the two companies have been talking, and almost surely about the planned Tesla Gigafactory, an enormous rechargeable battery production plant projected to open in 2017 and cost at least $5 billion.

It makes total sense. Thanks to its sales of millions of mobile devices like iPads, iPhones, and laptops, Apple uses twice as much battery capacity as Tesla.

Tesla "Gigafactory" Could Send Stock Through the Roof (Nasdaq: TSLA)

By , Associate Editor, Money Morning • @KyleAndersonMM -

Tesla Motors Inc. (NASDAQ: TSLA) has narrowed its location search for the new "Gigafactory" to sites between 500 and 1,000 acres in Arizona, New Mexico, Nevada, and Texas. The plant is projected to open in 2017 and will cost up to $5 billion.

The Gigafactory will employ approximately 6,500 and will reach full output capacity by 2020. At that point, the plant will be able to supply power for more than 500,000 vehicles annually.

"The Gigafactory is designed to reduce cell costs much faster than the status quo and, by 2020, produce more lithium ion batteries annually than were produced worldwide in 2013," the company stated.