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BRIEF-Tesla Inc updates on Gigafactories, capital spend
March 1, 2017 / 10:36 PM / 9 months ago

BRIEF-Tesla Inc updates on Gigafactories, capital spend

March 1 (Reuters) - Tesla

* Tesla-Have agreement to spend or incur about $5 billion in combined capital, other costs in New York state during 10-years after full production at Gigafactory 2

* Tesla - Gigafactory 1 is currently expected to attain full production capacity by 2020

* Tesla - Determined that it was reasonably possible that adverse changes in exchange rates of 10% for all currencies could be experienced in near term

* Tesla - Gigafactory 1 full production capacity anticipated to be sufficient for production of about 500,000 vehicles annually as well as for co’s energy storage products

* Tesla - Gigafactory 1 will allow co to achieve significant reduction in cost of battery packs once co is in volume production with Model 3

* Tesla - As of December 31, 2016, co had 17,782 full-time employees

* Tesla - Co had earlier reported 13,058 full-time employees as of December 31, 2015 - SEC filing Source text: (bit.ly/2masppL) Further company coverage:

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