Tesla Motors has reportedly chosen Nevada as the site to build its $5 billion gigafactory, which will be used to make electric cars available to everyone.
A person familiar with the electric car maker's plans said Wednesday that the facility will be built at an industrial park outside of Reno, according to The Associated Press. The person spoke anonymously since no official announcement about the decision has been made.
Tesla claims that the factory will produce enough batteries to power 500,000 cars each year by the end of the decade.
The report follows almost two months after the automaker announced that it had broken ground at a site in Reno as a potential option for the gigafactory, CNET reported.
Nevada Gov. Brian Sandoval scheduled a press conference for Thursday to make a "major economic development announcement." A spokeswoman for Tesla said the company would be present for the announcement, but she didn't confirm the report.
Nevada lawmakers must deliver a package of economic incentives requested by Tesla as part of the agreement, The Associated Press reported.
Tesla said the 10 million-square-foot factory will provide 6,500 jobs and will produce lithium-ion batteries on a large scale to reduce their cost. The size of the facility is equivalent to nearly 174 football fields.
Nevada was among several other states picked as potential candidates for the gigafactory; others included Texas, New Mexico, Arizona and California, CNET reported.
The gigafactory is scheduled to open in 2017, which is also when Tesla is scheduled to debut its Model 3, a cheaper third-generation electric car. The Model 3 is expected to be made available for $35,000, which is much cheaper than the Model S, which is priced at $70,000, as well as other electric vehicles.
