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Tesla says the cost of its massive Gigafactory could exceed expectations

Reuters,Bryan LoganAug 6, 2016, 03:55 IST

A prototype of the Tesla Model 3 is on display in front of the factory during a media tour of the Tesla Gigafactory which will produce batteries for the electric carmaker in SparksThomson Reuters

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

In an SEC filing Friday evening, the electric-car maker said it incurred $430.7 million of costs for the massive Nevada-based battery plant as of the end of June.

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

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

(Reuters editing by Sriraj Kalluvila)

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