Through economies of scale, Tesla's Gigafactory is expected to drive down the per-kilowatt cost of the company's own lithium-ion car batteries by more than 30% in 2017, the first year of production.
By 2020, Tesla believes its Gigafactory will produce more lithium-ion batteries in one year than were produced worldwide in 2013.
During a press conference outside of the Nevada state capital building last week, Gov. Brian Sandoval said the Gigafactory will have a nearly $100 billion in economic impact to Nevada over the next 20 years," Sandoval said.
"It's not just going to be the biggest lithium-ion battery factory in the world, but it will actually be bigger than the sum of all lithium-ion battery factories in the world," Musk said. "It's a heck of a big factory."
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