Last years Tesla started the construction of their battery factory that cost 5 billion US dollar. And the state has become a center of the electric car and energy industry. Every month company announces their plans to invest in Nevada. After Tesla, another electric car manufacturer Faraday Future announced their plans to spend 1 billion dollars on an electric car factory. There are also some other high-tech companies that involved in battery recycling and working in the area of futuristic transportation system companies will planning to invest in this field. For sure ” Battery Valley ” will be popular in Silicon Valley in the future. Not sure will called it ” Battery Valley ” tho.
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Nevada, known mostly for gambling, turns out to have a unique set of characteristics as a low cost of doing business, huge incentives, an ability to move quickly, and ample clean energy resources that make it attractive to companies developing innovative energy technologies. It’s slowly become a hub for manufacturing for energy storage, clean energy and greener transportation that could one day be as important as Silicon Valley is to Internet and software startups.
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One of the reasons that Nevada is getting popular is; the state has one of longest sunny days that other states, Nevada has 210 sunny days in average. And that make the state best option for the electric car industry because factories want to use solar panels to lower the cost and become greener. One other reason is Tesla, after the giant factory, lots of small companies who wish to invest in electrical technologies wanted to go to a Nevada. Another startup that backed up by Jia Yueting – a Chinese internet billionaire – wants to build a big factory ( three million square-foot ) for producing electric vehicles. Hyperloop Technologies will start testing Elon Musk’s famous plan in Nevada desert. Aqua metals are planning the build a battery recycling factory close to Tesla’s battery factory. AltoRock bought a geothermal plant. Nevada has one of the lowest cost of doing business; the state does not have a lot of taxes. Tesla was able to achieve $1.4 billion in tax breaks and free land. Also buying land is not that expanded. The state also close to the Silicon Valley, it makes employee companies to reach the factories from the head quarter so easy and quick way to travel. Nevada has one of the nation’s few lithium mines which is very critical for the battery industry.
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For sure the Valley needs more time to improve and to get bigger like Silicon Valley. And Nevada starts working for to make this area much popular for the investors. They are building roads, and rural areas around the GigaFactory to bring supplies to employees. If the investment keeps coming, construction workers will stay there very long time and for that Nevada should plan everything for the future of the area.
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