The company will lease a 369,000 square-foot facility that will "supply all-electric powertrain solutions to Tesla Motors vehicles and other automakers, greatly accelerating the availability of mass-market EVs," as it said in a release.
"Silicon Valley and the Stanford Research Park are synonymous with innovation and entrepreneurship," said Tesla CEO and Product Architect Elon Musk. "It's an ideal place for a new car company trying to rethink many aspects of the traditional automotive business."
Additionally, Tesla Motors is currently involved in negotiations with a number of companies for an assembly plant to build the future all-electric Model S. Tesla emphasized the new model will be produced at a separate factory in California, not at the one in Palo Alto.
"Our city is a leader in promoting sustainability and has a strong commitment to green technology. Therefore we're extremely pleased to welcome Tesla to Palo Alto," said James Keene, Palo Alto City Manager.
"Stanford, its Research Park, and Palo Alto have always been at the forefront of new technological discoveries and inventions, as well as fostering practices and ideas that increase environmental sustainability. Tesla's move is another indicator that Palo Alto is the place to be for the green tech and alternative energy companies that will help solve the daunting global environmental challenges of the 21st century."
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