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Tesla plans to spend up to $5 billion on new gigafactory site

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Tesla Motors, the electric-car maker that has seen its stock advance more than sevenfold in the past year, will spend as much as $5 billion on a new battery factory so it can make more affordable cars. Tesla said it plans $4 billion to $5 billion in total investment in the so-called gigafactory by 2020 and will fund about $2 billion of that amount. The company is exploring locations in Texas,...

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