Being able to produce massive batteries is a core part of Tesla's electric car business, and the company has just announced plans to get even better at that. The company just announced plans to build a "Gigafactory," a US-based facility that'll focus on manufacturing lithium ion batteries — and Tesla's plans for this factory are highly ambitious. By 2020, Tesla says it hopes its Gigafactory will produce as many batteries as were produced worldwide in 2013.
To meet that goal, Tesla will be partnering with other battery manufacturing partners in an effort to improve the economics of scale and reduce costs — the company says after one year of operation, it expects the per kWh cost of its battery pack will drop by 30 percent.
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