Tesla’s second Master Plan will be mostly funded by sales of its vehicles, particularly the new electric vehicle, the Model 3, chief executive Elon Musk said during a soft launch of the enormous ‘Gigafactory’ in Nevada on Tuesday.

A gold exploration and mining company has agreed to purchase a potential site for excavating lithium in Nevada, citing the “great deal of attention” brought onto the state by Tesla’s decision to locate its mammoth manufacturing facility there.

Tesla’s much talked about Gigafactory should be up and running in 2017. PV Tech Storage spoke to analyst Dean Frankel of Lux Research about some of the details and talking points of the EV maker’s ambitious plan to hit ‘500,000 battery packs by 2020’.

Tesla’s lithium-ion ‘Gigafactory’ will be built in Nevada, after company officials including chief executive officer Elon Musk appeared alongside the US state’s governor at a press conference held yesterday afternoon.

PV Tech Storage interviewed Bill Radvak of American Vanadium, whose company has a plan to scale up flow batteries for renewable energy integration, using its own vanadium deposits.