Investigators say Tesla car was speeding at time of crash

Tesla Gigafactory in Sparks Nevada

Tesla's new factory could almost double global production of lithium-ion batteries. By 2020, the facility will reach full capacity and produce more lithium ion batteries annually than were produced worldwide in 2013.

Tesla's second Master Plan will be mostly funded by sales of its vehicles, particularly the new electric vehicle Model 3, chief executive Elon Musk said during a soft launch of the enormous "Gigafactory" in Nevada on Tuesday.

"The growth in stationary storage is really under-appreciated", he said.

Barely weeks after the fatal vehicle crash involving Tesla's Model S autopilot, the US-based carmaker has announced that it was parting ways with the company that designed the image recognition hardware that powered the car's semi-automatic driving systems.

"A lot of the autonomous technology that's being developed these days will rely on other types of sensors, radar ... but more importantly, the big key component will be vehicle-to-vehicle communication", Mr. DeLorenzo told the Los Angeles Times.

It's "extremely crucial to their success", Jessica Caldwell, senior analyst at, said of the factory. Tesla could even supply other manufacturers.

Tesla did not immediately respond to a request for comment.

Musk said Tuesday that he was confident that Tesla would start making the Model 3 by next summer. "We continue to support and maintain the current Tesla Autopilot product plans".

And it wants to do that sooner than previously expected. Here in the desert, Tesla is building a massive, $5 billion factory to make batteries for electric cars, reports CBS News correspondent John Blackstone.

Musk has grand plans for the company.

The NTSB report said that after the Tesla Model S passed under the trailer, it continued for nearly 100 yards before striking a utility pole. Eventually, the roof will be covered in solar panels.

If Tesla's recent bid for solar panel maker SolarCity goes through, a customer could run a house on solar power, recharge the electric auto and store surplus power for later, all with Tesla products and services.

Musk explained that the future of green energy is the ability to quickly scale up production runs.

The rollout of vehicle battery packs at the Gigafactory is likely to affect those battery options again. Chinese automaker BYD Co., which is backed by Warren Buffett's Berkshire Hathaway Corp., also makes batteries and energy storage systems and is already building battery-powered buses in the U.S. The company hopes to bring low-priced electric cars to the a few years. It's already semi-operational with 1,000 construction workers toiling away seven days a week in two shifts.

The reason for the parting of the ways is unclear.

Dougherty added that Tesla comprises only about 1% of Mobileye's revenue today and that for the company's $1.1 billion 2019 revenue target, its business with Tesla only comprises about $17 million, or 350,000 vehicles. Plus, $195 million in tax credits that Tesla can sell for cash.

Tesla unveiled the Model 3 at the end of March. Tesla admitted that it has recently had problems meeting consumer demand.


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