Tesla breaks ground in Nevada for battery factory, but NM isn't ruled out

Updated: 07/31/2014 3:03 PM | Created: 07/31/2014 2:40 PM
By: Elizabeth Reed,

Tesla Motors announced on Thursday it has broken ground in Reno, Nevada, as a possible site for its new battery plant. However, New Mexico isn't completely out of the running.

According to Tesla's shareholder letter, the electric car company will continue to evaluate other locations for the gigafactory in New Mexico, Arizona, California and Texas.

Tesla CEO Elon Musk previously told Bloomberg he wanted to break ground in up to three states before selecting the final location.

New Mexico is facing stiff competition from the other finalist states. Tesla already has an assembly plant near Palo Alto, California.  Nevada boasts the nation's only lithium mine. Arizona has plenty of space and abundant wind and solar energy, and Texas is already heavily into the auto business with General Motors and Toyota truck plants. 

The final site will be determined in the next few months, according to the shareholder letter.

The $5 billion plant will employ 6,500 workers and be powered by wind and solar energy.

Read More: Second Quarter 2014 Shareholder Letter

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