Tesla Digs Deeper Into California With New Battery Facility

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Tesla  (TSLA) - Get Tesla Inc Report and its founder Elon Musk are walking back threats to move out of California with plans to dig deeper into the sunshine state with a new battery plant.

The electric car maker is prepping to build a battery research and manufacturing facility in its hometown of Fremont, Calif., in another sign it is both looking to produce its own batteries, and also doubling down on California as the place to do it.

Citing city government documents, Reuters reported that Tesla was looking to construct a battery manufacturing operation in Fremont.

While it currently has a “small-scale” battery manufacturing facility, the planned expanded operation that Tesla has filed applications to build would run around the clock under a project dubbed Roadrunner, according to the report.

The announcement follows unofficial news that Tesla will hold its so-called Battery Day event on Sept. 15, the day of the company's shareholders meeting when it will reveal details about its “million mile” battery.

In a tweet last Friday, Tesla CEO Elon Musk confirmed the date for the event, which was originally planned for April and then bumped back to July due to the coronavirus pandemic. 

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