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Empire Asset Investments Follows Tesla As They Rush To Finish Their Gigafactory Way Ahead Of Schedule

08-02-2016 12:09 PM CET | Business, Economy, Finances, Banking & Insurance

Press release from: Empire Asset Investments

Empire Asset Investments Closely Follows Tesla As They Rush To Finish Their Gigafactory Way Ahead Of Schedule

Empire Asset Investments Closely Follows Tesla As They Rush To Finish Their Gigafactory Way Ahead Of Schedule

Tesla has doubled the labor force working on its $5 billion high-tech factory in the Nevada desert, attempting to finish construction on a new and much tighter schedule, according to a report in The Wall Street Journal.

The company wants to have the factory ready for the launch of its Model 3, a $35,000 car meant to be a more affordable version of its high-end electric sedans and sports cars, the paper said.

About 1,000 workers are keeping construction up seven days a week to meet Tesla's new plan to produce lithium-ion battery cells by early 2017, according to the report.

Tesla has been building the factory in phases, and it will be ready to produce batteries before vehicles. The factory is already producing battery packs, but Tesla has to buy the actual lithium-ion cells from Panasonic.

Last week, Tesla Chief Executive Elon Musk released his " Master Plan, Part Deux, " where he outlined some of his strategies for the company over the next several years.

"What really matters to accelerate a sustainable future is being able to scale up production volume as quickly as possible," Musk wrote. "That is why Tesla engineering has transitioned to focus heavily on designing the machine that makes the machine — turning the factory itself into a product."

Tesla has faced problems meeting consumer demand, and lost two manufacturing executives this year, the article noted.

With Tesla’s doubling their labor force and working every possible hour on its $5 billion high-tech factory I’m positive they will meet their schedule on time, ready to produce its Model 3 car stated Jane Suki tech analyst for Empire Asset Investments.

Empire Asset Investments is one of the world's leading investment organizations. Our primary focus is targeting promising business opportunities at their start-up or initial growth stages.

Our time-proven and tested strategies have been developed through our experienced leadership network and unsurpassed sector knowledge.

New York-based Empire Asset Investments provides sophisticated forex, bullion and commodities trading solutions to institutional and private investors.

Suite 11023, 110 Wall Street, 5th Tower, New York, NY, 10005, USA

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