Tesla to Open 5bn Dollar Factor For Electric Cars

Tesla Motors said on Wednesday that it planned to invest about $2 billion in a large-scale factory to produce cheaper batteries for a mass-market electric car within three years. The company, which makes all-electric luxury sedans, indicated that it would build the factory in the American Southwest, without specifying where. Nor would it name its partners, whom it said would invest up to another $3 billion in the factory through 2020.

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