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Tesla Announces Details Of Proposed Gigafactory Battery Plant

It's another day and electric automaker Tesla Motors is in the news once again. Tesla announced Wednesday that they will be offering $1.6 billion in convertible senior notes to the public. According to the press release, Tesla will use these funds to assist in "the development and production of its 'Gen III' mass market vehicle, the development of the Tesla Gigafactory and other general corporate purposes." The "Gigafactory" is a proposed lithium-ion battery plant that will sit on an estimated 500-1000 acres of land, employ around 6,500 employees and have an estimated vehicle output of 500,000 units per year in 2020, according to the automaker. That amount of vehicles will require an estimated 50 gigawatt hours of energy per year in battery pack production. That's more energy in lithium-ion batteries than was produced globally in 2013. Construction of the Gigafactory is anticipated to take place during 2014 and all of 2015, followed by equipment installation in 2016. First production launch is scheduled for 2017. In keeping with the environmentally friendly theme, the Gigafactory will be "heavily powered" by both solar and wind energy, and according to our colleagues at Autoblog Green, "will also use older Tesla packs for storage." Tesla still hasn't announced in which state the factory will be built, but it has been narrowed down to four: Arizona, New Mexico, Nevada, and Texas. More details can be read in this PDF document released by Tesla and in the press release below. TESLA ANNOUNCES $1.6 BILLION CONVERTIBLE NOTES OFFERING WEDNESDAY, FEBRUARY 26, 2014 PALO ALTO, Calif., February 26, 2014 – Tesla announced today an offering of $1.6 billion aggregate principal amount of convertible senior notes in an underwritten registered public offering. Of the total offering, Tesla will offer $800 million aggregate principal amount of convertible senior notes due 2019 and $800 million aggregate principal amount of convertible senior notes due 2021. In addition, Tesla intends to grant the underwriters a 30-day option to purchase up to an additional $120 million in aggregate principal amount of convertible senior notes due 2019 and an additional $120 million in aggregate principal amount of convertible senior notes due 2021, for a total potential offering size of up to $1.84 billion. Tesla intends to use the net proceeds from the offering to accelerate the growth of its business in the U.S.

Recharge Wrap-up: Tesla's largest private Supercharger order, Sec. Foxx talks safety in innovation

Tesla will deliver its largest order yet for a private Supercharger station. The all-Tesla Teo Taxi fleet servicing the Montreal-Trudeau Airport will have 12 charging stalls in its private station. The two-stall Superchargers Tesla sells for private use are capped at 60 kW, unlike the 120-kW chargers Tesla operates for public use. Tesla doesn't disclose the price of its private Superchargers, but rumors suggest a two-stall charger costs around $60,000, but can come free with a large order of vehicles. Read more at Electrek. French zero-emission delivery service Cetup set a new range record for the Renault Kangoo ZE-H2 EV equipped with a fuel cell range extender. The drivers logged 228 miles over 10 hours and 36 minutes, with a fully charged 22-kWh battery pack and four pounds of hydrogen in the tank. This took place at night in and around the city with lights and heat turned on, averaging 22 mph. "Reaching such impressive performance with a first generation vehicle delivered in January 2015 is remarkable," says Fabio Ferrari, founder and General Manager of Symbio FCell (the company that provides the car's fuel cell). "The new versions of our Kangoo ZE-H2, currently in production, reduce the hydrogen consumption even more. Beyond, a new 700 bar option will get us close to the 500 km range mark." Read more at Green Car Congress. EVgo has taken on JMPR as its public relations agency. As the EV charging service continues to grow, JMPR will help bring awareness to EVgo through various campaigns targeted at consumers, potential partners, and policy makers. "Electric vehicle charging is critical to EV adoption and is set to explode over the coming years," says EVgo VP of Product Strategy and Market Development Terry O'Day. "EVgo is positioned to further build out our industry-leading fast charging network. We are excited to work with JMPR and tell the story of how EVgo is at the forefront of powering the electric vehicle revolution." Read more in the press release from JMPR. US Transportation Secretary Anthony Foxx spoke about electric, automated, and connected vehicles during a visit to the International Transportation Innovation Center (ITIC) in Greenville, South Carolina. Foxx highlighted the importance of safety, and discussed roadside sensor systems, camera-based vehicle side collision avoidance, and cybersecure wireless charging infrastructure.

Tesla Recalls Wall Charger Adapters To Prevent Overheating

Tesla Motor Company, maker of the Model S electric car, is recalling 29,222 wall charger adapters following reports of overheating in owners' garages. The National Highway Traffic Safety Administration (NHTSA) announced the recall Tuesday morning. Tesla said the problem lies in the Universal Mobile Connector (UMC) adapters, which can lead to the adapter, cord or wall outlet overheating during charging. The danger was discovered when a garage caught fire in California in November. It has since resulted at least five incidents that were reported to NHTSA's complaint database. "These are very rare events, but occasionally the wiring isn't done right," Tesla CEO Elon Musk said, according to Bloomberg. "We want people to have absolute comfort, so we're going to be providing them with an upgraded adapter." The new adapter will include a thermal fuse that will shut off charging if overheating is detected, Musk said. Tesla sent a software update to its customers to deal with the overheating issue back in December, which was designed to trigger a 25 percent reduction in charge current when it sensed a potential overheating. Tesla said about 2.9 percent of Model S buyers have returned their UMC adapters because of defects. Related Gallery Electric Cars And Hybrids Don't Have To Be Frumpy Recalls Tesla