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Tesla owner Elon Musk said company will name ‘gigafactory’ site by year’s end – Newsday

MOUNTAIN VIEW, CALIF. – Tesla Motors Inc., the electric-car maker led by Elon Musk, won’t decide until year-end where to build a battery “gigafactory” even as it readies multiple plant sites, the billionaire clarified for investors.

The company first proposed the sprawling battery plant in February to supply lower-cost lithium-ion cells for its cars and packs for home-power storage devices. Tesla will soon start preparation in as many as three states “all the way to creating a foundation,” completing plans and gaining local approval, Musk, 42, said Tuesday at Tesla’s annual shareholder meeting in Mountain View, California.

“It might actually be three states that we do it in,” he said. “I would expect that we do a down-select for gigafactory 1 before the end of the year.”

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