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Tesla Says Gigafactory Costs May Exceed Expectations

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Reuters
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Reuters
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August 5, 2016, 6:33 PM ET
Tour Of Tesla Motors Inc.'s Gigafactory With Remarks By Chief Executive Officer Elon Musk And Co-Founder Jeffrey Straubel
Machinery stands inside the Tesla Motors Inc. Gigafactory in Sparks, Nevada, U.S., on Tuesday, July 26, 2016. Tesla officially opened its Gigafactory on Tuesday, a little more than two years after construction began. The factory is about 14 percent complete but when it's finished, it will be about 10 million square feet, or about the size of 262 NFL football fields. Photographer: Troy Harvey/Bloomberg via Getty ImagesTroy Harvey — Bloomberg via Getty Images

Tesla Motors said the cost of building and operating the Gigafactory could exceed the company’s current expectations.

The Gigafactory may also take longer than anticipated to come online, the electric carmaker said in a filing on Friday.

Tesla (TSLA), which is buying solar panel installer SolarCity (SCTY) for $2.6 billion in shares, unveiled the massive battery factory, the Gigafactory, in Nevada last week.

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