Tesla Motors Seeks Permission to Double Size of California Car Plant

Tesla Motors Inc.‘s California factory shall nearly double in size and the facility’s production increase to 500,000 automobiles each year, as per a long-lasting zoning proposition released by the local government.

Tesla’s proposal to permit growth of the center in Fremont, California, which dates to the 1960s, is a action in the company’s effort to prepare for significant development. CEO Elon Musk wants to produce a million automobiles a year by the end of 2020. He developed about 50,000 automobiles in 2015 at the Fremont plant.

The anticipated arrival of Tesla’s Model 3 sedan next year shall extend the Palo Alto, California, automaker’s reach beyond the market for high-end electric vehicles. The $35,000 cars and truck is part of Musk’s strategy to draw in the masses. Strong early demand for the Model 3 led the business to move its objective of making 500,000 automobiles a year to 2018 from 2020.

Tesla’s long-term item technique includes an electric pickup, small sport-utility automaker and big business vehicles. The company has stated it will need to raise additional money to assist bring production of the Model 3 online, even as it is attempting to finish a merger with SolarCity, a solar-energy business where Musk is likewise chairman and the biggest investor.