Quantcast

Does Elon Musk's Tesla Model S 'Signal the Beginning of the End for Oil?'

Business

Elon Musk's $5 billion Tesla "Gigafactory" in Story County, Nevada isn't just going to be big, it's going to be the biggest in the world.

Tesla broke ground on its Gigafactory in June 2014 outside Sparks, Nevada. Photo credit: Tesla Motors

At least that's the word on the street after Story County official Dean Haymore revealed that the electric vehicle/battery maker initially bought a thousand acres to start with, then recently swooped up another 1,200 acres and another 350 acres on top of that.

As Tech News Today writes, Tesla "initially intended to purchase 10 million square-feet of land for its Gigafactory, but after recent plans of acquisitions, it seems Tesla will end up with more than 24 million square-feet of land, making it the largest factory in the world."

Haymore starts talking about the massive purchase around the 6:44 mark in this video:

It's no surprise that Tesla is collecting some serious acreage, because it will need a lot of space for its ambitious plans.

"With a planned production rate of 500,000 cars per year in the latter half of this decade, Tesla alone will require today’s entire worldwide production of lithium ion batteries," the company said. "The Tesla Gigafactory was born of necessity and will supply enough batteries to support our projected vehicle demand."

The factory, which will be powered by renewable energy, is gunning for an annual battery production capacity of 35 gigawatt-hours, according to the Tesla Motors.

Construction of the Gigafactory is well underway. Hybrid Cars reports that the first construction phase of a 90,000 square foot building is nearly done and will soon be ready to install manufacturing equipment. Check out aerial footage of the factory's huge expanse in this video:

As previously reported by EcoWatch, Tesla is building its Gigafactory to not only produce enough lithium-ion batteries to change the EV market and drive down prices, the company is also planning to storm the solar energy sector. In its partnership with SolarCity, Tesla is incorporating its batteries with SolarCity's solar system to allow customers to store the excess energy created by the panels.

Tesla's CEO makes it no secret that he's planning on revolutionizing the energy grid. “Our goal here is to fundamentally change the way the world uses energy,” Musk told Bloomberg. “We’re talking at the terawatt scale. The goal is complete transformation of the entire energy infrastructure of the world.”

It appears that Big Oil and Gas are bracing for the clean energy revolution. Tesla's very own Model S landed on the cover of Alberta Oil, an oil industry glossy, with the tagline "Hell on Wheels."

The accompanying story has a title that says it all: "Is Tesla’s Model-S the Beginning of the End for Oil?"

YOU MIGHT ALSO LIKE

The Car of the Future Will Be All Electric and Self-Driving

5 Eco-Cars Taking the Industry by Storm

10 Best Cities in the U.S. to Own an Electric Car

EcoWatch Daily Newsletter

Wesley Martinez Da Costa / EyeEm / Getty Images

By David R. Montgomery

Would it sound too good to be true if I was to say that there was a simple, profitable and underused agricultural method to help feed everybody, cool the planet, and revitalize rural America? I used to think so, until I started visiting farmers who are restoring fertility to their land, stashing a lot of carbon in their soil, and returning healthy profitability to family farms. Now I've come to see how restoring soil health would prove as good for farmers and rural economies as it would for the environment.

Read More Show Less
skaman306 / Moment / Getty Images

By Jillian Kubala, MS, RD

Radish (Raphanus sativus) is a cruciferous vegetable that originated in Asia and Europe (1Trusted Source).

Read More Show Less
Sponsored
Tinnakorn Jorruang / iStock / Getty Images

By Dan Nosowitz

The budding research on cannabidiol, or CBD, attracts a great deal of interest in the agricultural field.

Read More Show Less
Oksana Khodakovskaia / iStock / Getty Images

By Jillian Kubala, MS, RD

The loquat (Eriobotrya japonica) is a tree native to China that's prized for its sweet, citrus-like fruit.

Read More Show Less

The Centers for Disease Control (CDC) released new numbers that show vaping-related lung illnesses are continuing to grow across the country, as the number of fatalities has climbed to 33 and hospitalizations have reached 1,479 cases, according to a CDC update.

Read More Show Less
Sponsored
During the summer, the Arctic tundra is usually a thriving habitat for mammals such as the Arctic fox. Education Images / Universal Images Group via Getty Images

Reports of extreme snowfall in the Arctic might seem encouraging, given that the region is rapidly warming due to human-driven climate change. According to a new study, however, the snow could actually pose a major threat to the normal reproductive cycles of Arctic wildlife.

Read More Show Less
Vegan rice and garbanzo beans meals. Ella Olsson / Pexels

By Alina Petre, MS, RD (CA)

One common concern about vegan diets is whether they provide your body with all the vitamins and minerals it needs.

Many claim that a whole-food, plant-based diet easily meets all the daily nutrient requirements.

Read More Show Less
A fracking well looms over a residential area of Liberty, Colorado on Aug. 19. WildEarth Guardians / Flickr

A new multiyear study found that people living or working within 2,000 feet, or nearly half a mile, of a hydraulic fracturing (fracking) drill site may be at a heightened risk of exposure to benzene and other toxic chemicals, according to research released Thursday by the Colorado Department of Public Health and Environment (CDPHE)

Read More Show Less