The world is moving into a new age of automotive battery manufacturing, but the business is still dominated by one firm: Tesla Motors.
But with its recent acquisition of the electric carmaker’s battery business, and its rumored battery manufacturing plant in Nevada, the company could become the largest player in the battery space in the near future.
While Tesla has been making big announcements about the battery industry recently, the carmaker has not announced its own battery manufacturing operation.
The Tesla CEO Elon Musk has said the company is going to build battery plants in China and Mexico, and that the new battery production facility will be called Gigafactory 1.
But the company has not given any details about what the facility will look like.
Now, though, Tesla has confirmed its plans to make batteries in China.
In a statement on Monday, the electric automaker announced it will build an assembly plant in the Chinese city of Hangzhou, which is near its own factories in Nevada and South Carolina.
The plant will be named the Gigafill factory and will employ 500 workers, according to Tesla’s statement.
Tesla’s announcement comes just days after Tesla confirmed that it has acquired the battery manufacturing business of California-based SolarCity.
According to Tesla, the acquisition will result in the creation of a $300 million investment fund to help fund the expansion of the company’s solar battery manufacturing facility in China, which has been dormant for more than a decade.
The company said that the acquisition is expected to close in the second half of 2019, and Tesla will continue to manufacture its batteries in California.