May 30, 2016 09:25 AM EDT

Tesla’s Gigafactory Expected to Open On July 29

By Ron.S

Tesla's Gigafactory 1 is set to hold a grand opening on July 29 at their location just outside the east of Reno, Nevada.

The electric car maker Tesla Motors announced their plans on their blog. The new factory is already producing batteries designed for the company's Powerwall and Powerpack units.

Despite Tesla's Gigafactory is estimated at only 14% complete, the electric car manufacturer is adamant that they will be ready to open its doors for the world to see. Though the event is by invitation, some of which expected in attendance is their customers who had won tickets to the event, according to Fortune.

Its lobby showcases a classic design; large glass windows, high ceilings, and black leather seats to contrast the predominantly white lobby area. The date was revealed to the public when the email containing the invite was posted on Reddit. The email was sent by Tesla to customers, whom of which won tickets to the event.

The grand opening is expected to be focused mainly on Tesla's customers rather that a formal press event.

The large factory is estimated to cost the company about $5 billion to build, which would cover an area of about 5.8 million square feet on the Nevada desert, Bloomberg reports.

The ambitious factory is being built in sections and is expected to be fully operational in a few months. Towards the end of July, the factory is expected to start its production on Tesla's Model 3.

The highly anticipated electric car from Tesla, which boasts 325,000 reservations, is expected to be on the high priority list of output for the up and coming mega factory. The Model 3 is expected to cost at about $35,000, which is relatively cheaper than the company's $71,000 Model S, according to CNET.

The expected sales of Tesla, based on their data posted on the company's website, would likely see the factory to pay for itself in a matter of months

Get the Most Popular Jobs&Hire Stories in a Weekly Newsletter
© 2017 Jobs & Hire All rights reserved. Do not reproduce without permission.

Join the Conversation

Real Time Analytics