A report by Bloomberg Intelligence says while Elon Musk works to finish building the world’s largest battery factory in Nevada, Chinese battery companies are planning additional factories that may far out-produce what Tesla Inc.’s Gigafactory will crank out.
Once completion of additional battery factories in China is complete, the facilities are expected to produce over 120 gigawatt-hours a year by 2021. That is enough to supply batteries for 1.5 million Tesla Model S vehicles or 13.7 million Toyota Prius Plug-in Hybrids per year, according to Bloomberg New Energy Finance.
