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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: Musk sees solar future, Uber sued for tips

Elon Musk and his cousin, Lyndon Rive, spoke about their ideas for solar power and energy storage at a private conference in New York. Musk, the Tesla CEO and Rive, CEO of SolarCity, said that within 10 years, every solar system SolarCity sells will come with battery storage, and that it will be cheaper than getting energy from a utility company. Tesla, which provides battery packs for SolarCity, will set aside a portion of its Gigafactory's production capacity for grid-scale energy storage. Rive says his company will be able to produce the most efficient solar panels available, while Tesla has plans for in-home energy storage that not only saves power for nighttime and cloudy days, but also looks good. Read more at The Wall Street Journal and head over to Treehugger for more commentary. Proper deployment of bike lanes could help improve the flow of traffic while making cycling safer in urban settings. In New York City, adding bike lanes improved automotive traffic according to a study. What seems to work well is putting the bike lane closest to the curb on the left side of a one-way street, with a small buffer zone and a parking lane separating it from car traffic. The addition of turning lanes, with their own traffic signals for vehicles turning left, also allows car and bike traffic to continue smoothly. Read more at Core77. Uber is facing a lawsuit over its included gratuity. The ride-hailing app charges a 20 percent tip, included in the price of the ride. The Illinois plaintiff claims, however, that Uber keeps "a substantial portion" of that gratuity for itself, rather than paying it out to the driver. The lawsuit, which is seeking group status, looks to make Uber give up any of the gratuity funds it has kept. The plaintiff is also seeking an unspecified amount of cash in damages. Read more at Bloomberg. A new study breaks down the demographics of the users of public transit. The study, called "Who's On Board 2014," Finds that ridership is mostly inverse from income, with people making over $150,000 per year bucking the trend by riding as much as those in lower brackets. Regardless of region, younger people are more likely to use public transportation, while older people prefer to drive more. African Americans are more likely to ride, with 39 percent using public transit once a week, and 22 percent commuting by transit. Whites use public transit less, with only 10 percent riding once a week, and just five percent using public transit to commute.

Recharge Wrap-up: Schaeffler 48V mild hybrid Audi TT, Georgia Power charging stations

Schaeffler will test a 48-volt mild hybrid system in the Audi TT. A lithium-ion battery powers an electrified rear axle, which supplements the power provided to the front wheels from the internal combustion engine. The system includes a belt-driven starter generator also running on 48 volts. The car has driver-selected Sport and Eco modes, the latter of which maximizes all-electric driving at low speeds for increased fuel economy. The rear axle can also support the front when more traction is needed. Sport mode wrings out every bit of performance from both the internal combustion and electric motors, with torque vectoring between the rear wheels offering extra stability. Read more at Green Car Congress, or in the press release from Schaeffler. A man has built a near-life-size replica of a Tesla Supercharger out of Legos. Robert Turner's ode to the charging station stands at 42.5 inches tall (which looks impressive standing next to a real Model S), and took over three months to build. Turner showcased his Lego Supercharger at the Brickworld Chicago Lego convention, and he goes into more detail about the painstaking process of forming his creation out of tiny plastic bricks in a video interview. See the Lego Supercharger and read more at The Brothers Brick. Georgia Power is opening 11 new EV charging stations around the state. The charging islands – which are located at various Georgia Power locations – offer DC fast charging with CHADeMo/SAE Combo plugs as well as Level 2 208/240-volt chargers. Customers can pay with either a Georgia Power or ChargePoint card. These first chargers are part of a larger plan by the utility to roll out 61 charging islands throughout Georgia by the end of 2016. See a list of locations and learn more in the press release below. Georgia Power opens 11 new EV charging islands First phase of statewide public charging infrastructure completed ATLANTA, Sept. 30, 2015 /PRNewswire/ -- Georgia Power announced today that the company will open 11 new electric vehicle (EV) charging islands to the public on October 1. The new charging islands, located at Georgia Power properties across the state, mark the completion of the first phase of planned charging infrastructure being developed by the company which will include approximately 61 community charging islands for public use statewide by the end of 2016.