Tesla Motors is planning to produce batteries by investing around $2 billion, which can be charged using solar powers at its new Gigafactory at Nevada.
The factory has initiated the manufacturing of batteries, Â in order to reduce the greenhouse effect in climate.
The solar panels will get charged first, which will charge the batteries in turn.
Tesla’s founder, Elon Musk envisions this $5 billion Nevada facility as a major step toward making electric cars more affordable, reducing fossil fuel dependence and greenhouse gas emissions.
Initially, this trend towards electric cars looks positive for utilities struggling with stagnant sales from energy conservation and slow economic growth.
SolarCity, another company led by Tesla is packaging thousands of batteries and solar panels in order to power big stores including Walmart.
It is found that almost 40 percent of the plugin cars have been sold out in California with people opting for solar energy charging and green cars.
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Recently, Tesla has been investing heavily on batteries and solar charging. The company has installed 135 fast charging stations in North America.
The factory has also entered into a deal with Oncor Electric Delivery. In addition, Tesla is investing around $2 billion in the segment of fast charging, solar and wind energy consumption in cars.
Sabeena Wahid
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