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Here’s Why Tesla’s Massive New Factory Will Change Everything

This post is in partnership with Fortune, which offers the latest business and finance news. The article below was originally published at Fortune.com.
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Tesla Motors, the innovative electric car company, wants to be a bigtime automaker. To achieve that, it needs to produce hundreds of thousands of vehicles more than the 22,300 electric vehicles it made in 2013.
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Which means it’s going to need a bigger battery factory. A much, much bigger one.

Last week, the electric automaker revealed the first details for its so-called Gigafactory, a massive facility that will be designed to produce more lithium-ion batteries annually by 2020 than were made worldwide in 2013. At 10 million square feet, Tesla estimates that the plant will have the capacity to produce 50 gigawatt hours of battery packs a year, which will be used for its Model S luxury sedan and a cheaper third-generation vehicle intended for the mass market. By 2020, Tesla estimates the facility will be able to make enough batteries to supply 500,000 vehicles a year.
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