Tesla announces plan to boost production in 2015

Tesla Motors Inc. Chief Executive Elon Musk promised shareholders a dramatic boost in the production of his company's electric cars, telling investors that Tesla will produce 35,000 cars this year and up to 100,000 in 2015.

Tesla, which reported earnings Thursday, also confirmed that the company has begun construction in Reno, Nev., on the first of possibly several battery factories. That news came hours after Tesla announced that it had entered into a long-term partnership with Panasonic Corp. to produce the vehicles' lithium-ion batteries.

The $5-billion cost of multiple "gigafactory" locations would be shared by Panasonic, which would be expected to match Tesla's 40% commitment, with an additional 20% commitment coming from other investors and contributions from governments where the factories will be built.

Earlier reports had said Panasonic could invest between $200 million and $1 billion in the massive facility.

more

http://www.latimes.com/business/autos/la-fi-hy-tesla-earnings-20140801-story.html