Gigafactory

Richard Waters

The Wall Street analysts waiting eagerly for details of Tesla Motors’ planned “Gigafactory” will have been disappointed by the cursory treatment the project got on Wednesday, as the company announced plans to raise $1.6bn.

After all, this is the massive battery-making plant that is meant to cement Tesla’s rise as the world’s first mass-market electric car maker. According to an expansive report by a Morgan Stanley analyst earlier in the week, it could also make it the dominant player in a $1,500bn market for selling energy storage devices to electric utilities. Read more