Tesla announced that its Gigafactory in Nevada will be used to make the electric motor and drivetrain for its upcoming Model 3 sedan. This news was confirmed by Nevada Governor Brian Sandoval during his State-of-the-State address.
The Model 3 is the company’s entry-level sedan, or in other words, the most affordable Tesla model yet. As of this writing, the vehicle would cost around $35,000 (about P1.6 million). It is also the 4th production model of Tesla following the Roadster, Model S, and Model X. Moreover, Tesla CEO Elon Musk previously said that the Model 3 has an electric range of 346 km.
The Model 3 could also feature an all-new interior theme as Tesla hired Anders Bell, the senior director of engineering and ‘Head of Interior Engineering’ of Volvo last December 2016.
In line with its plan to produce the electric motor and drivetrain for the Model 3, Tesla is investing $350 million (around P17.5 billion) to its Gigafactory. The investment is also projected to create 550 new jobs.
Tesla’s Gigafactory broke ground in 2014 and was designated as the brand’s lithium ion battery manufacturing facility. On the other hand, Tesla’s cars are produced in Fremont, California.
Called the GTS and GTS Sport Turismo, they add sportier touches and standard kit.
Billions of dollars have been invested so far, and a line of credit is ready to flush out the company.
Steel wouldn’t let aluminum take its position as the top player in the automotive industry.