An artist\'s rendition of the Tesla Model III
£30K ELECTRIC CAR EXPECTED TO APPEAL TO THE MASSES
04SEP 2014
Tesla Motors, the company responsible for producing the all-electric Model S, a car that Consumer Reports rated the “Best Car Ever Tested” in 2013, is expected to today announce plans to build a new $5 billion dollar plant in Nevada which will produce electric car batteries for their upcoming 2017 model.
Being dubbed the “Gen III,” the new Tesla all-electric car is expected to have a range of 200 miles per charge and retail for approximately $35,000 dollars – A price point which is expected to appeal to the masses. The Tesla “Gigafactory” is projected to produce 500,000 battery packs for electric cars each year by 2020. Sources familiar with the project have indicated that the Nevada location was selected due to its proximity to America’s only active lithium mine.
Designed to reduce battery costs by 30 percent, the Gigafactory is Tesla’s company advantage in producing a more affordable, mass-market electric car. For industry watchers, however, the move also translates to a lot more demand for lithium.
In a note sent to shareholders in late March, Lithium Exploration Group CEO Alex Walsh said Tesla is expected to consume up to 15,000 additional tons of lithium carbonate once its Gigafactory operations are in full swing in 2017. To put the amount in perspective, total global demand for lithium carbonate in 2012 was around 160,000 tons, according to international metals and minerals research and consulting firm Roskill.
A MATTER OF TIME
“It’s just a matter of time before electric vehicles take over the market,” said Dennis Bryan, senior vice president of Western Lithium. “Given the continued growth factor in lithium, we expect demand to increase substantially.”
Sales and adoption of electric vehicles (EVs) like the Tesla Model S, Tesla Roadster, and Nissan Leaf have been steadily increasing over the past few years thanks to the financial savings associated with “fueling” a car with electricity. The cost to “fill up” is under $5 dollars, as opposed to $40 dollars or more to refill an automobile with gasoline. Financial savings can be even greater when you install a home solar energy system to collect sunlight and recharge an EV with solar power.
Previous reports have shown Tesla’s new Gigafactory will be powered by on-site renewables including solar and wind power: solar panels
SOLAR POWERED TESLA GIGAFACTORY AT A GLANCE:
- Expected to drive down the per kWh cost of EV battery packs by more than 30 percent
- Forecasted to produce approximately 500,000 EVs per year by 2020
- Will take up approximately 500-1,000 acres
- Will employ approximately 6,500 workers
- Model 3/Model III will be 20% smaller than Model S,
- Expected to have electric range of 200 miles at approximate cost of $35k
- Design expected to be unveiled in 2016, car available for purchase in 2017
TESLA SOLAR POWERED SUPERCHARGING
Tesla Motors is simultaneously building a national network of solar powered electric vehicle fast charging stations.
Tesla’s EV ‘Supercharger’ technology provides a half charge (approximately 150 miles of driving range) in as little as 20 minutes, all compliments of a beautiful solar panel canopy which adorns the top of the EV charging station.
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