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Elon Musk Says Tesla Could Dominate EV Market With 20 Gigafactories Worldwide

By Brian Spaen

Tesla is already making a big impact in renewable energy, and they aren’t slowing down anytime soon. After launching the Gigafactory last summer, they’ve made plans to construct four more around the world. At the annual shareholder meeting a week ago, the company’s CEO, Elon Musk, said there could be anywhere from 10 to 20 Gigafactories built in the future.

The first Gigafactory began operation at Storey County in Nevada back in January 2016. It began producing Powerwalls and Powerpacks throughout the year on a limited basis until this year, where it now also creates battery cells that were formerly imported. Another Gigafactory, located in Buffalo, New York, will be the main producer of solar panels beginning this summer. 

Musk first hinted at up to four gigafactories during a TEDtalk back in May. Depending on what other car manufacturers do, there is a chance of Tesla building up to 20 Gigafactories. Their goal is to take as much of the market share on electric vehicles as possible until everybody else catches up. The CEO has noted that it would take about 100 Gigafactories to produce all the EVs and battery storage needed for the entire world.