Tesla's Gigafactory: Elon Musk’s Another Alteration On Its Way:

Tesla, a company which has become a synonym for the innovation and futuristic approach, is ready to come up with its mighty battery plant this summer in 2016. The battery plant is supposed to produce stationary battery which will store solar power energy and can be reused later.

In this endeavour, the Japanese company Panasonic has already partnered with the electric car-maker Tesla. 

The grand opening of the factory is scheduled to open on July 29. This news was informed in an email to customers who were a part of a sales referral program. Because of resetting its goal to produce 500,000 vehicles a year by 2018 than 2020, Tesla will need more batteries to power its vehicles.The previous month,Tesla unveiled its Model 3. For this car, Tesla has already taken 400,000 car reservations orders.

The Gigafactory will produce batteries for significantly less cost using:

• Economies of scale
• Innovative manufacturing
• Reduction of waste, and
• Optimization of locating most manufacturing process in near vicinity

Tesla is also expected to drive down the per kilowatt hour (kWh) cost of their battery system by more than 30 percent. Gigafactory will also use renewable sources of energy with a goal of achieving net-zero energy.