Tesla chief executive Elon Musk says he could announce the locations of an additional four Gigafactories by the end of the year.
Musk first announced his attention to build additional Gigafactories in a letter to shareholders earlier this year. At the time, he said he was planning two or three new facilities. However, during an interview at last week’s TED conference, the outspoken executive said more are likely.
“I will announce locations for between two and four Gigafactories later this year—probably four,” he said.
Musk failed to provide specific details about possible locations but did say that they need “to address a global market,” indicating that they will be located outside of North America with China and Europe both expected to be frontrunners.
Musk has become synonymous with bold claims and the suggestion that a handful of new gigafactories are already on the cards is extremely ambitious. After all, construction at the electric automaker’s Gigafactory 1 has yet to be completed and the company is still failing to record consistent profits. Building four more lithium-ion battery facilities would require billions of dollars.
During an interview with Leonardo DiCaprio last year, Musk said it would take about 100 gigafactories to power the entire world with sustainable energy.
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