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Technology Stocks : Investing in Exponential Growth

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From: Paul H. Christiansen7/27/2016 3:22:15 PM
   of 1084
 
Elon Musk Says It’s ‘Pencils Down’ for Tesla’s Model 3

It's official: The pencils are down.

Tesla Chief Executive Officer Elon Musk told a roomful of reporters on Tuesday that the final designs for Tesla's $35,000 electric Model 3 were locked up two weeks ago, and the company is moving forward on schedule to start producing them next summer. That was just the beginning.

Musk, 45, spoke in a room lined with windows looking out onto the grounds of what's rapidly becoming the biggest building in the world: Tesla's battery Gigafactory. When complete, the three-story building will be about the size of New York's Central Park. To put it another way, 107 football fields could fit inside its footprint.

The diamond-shaped factory in the scrubland outside Reno, Nevada, is surrounded by thousands of wild horses that drink from construction ponds at the Gigafactory. Musk says the project inspires in him a sense of Wild West romance—which is perhaps why he opened himself up to a wide-ranging interview that covered everything from proprietary battery design to the book he's reading in his spare time.

bloomberg.com

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