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Tesla Purchases Former Toyota Factory in Fremont, California

Tesla Motors will builds its Model S sedan and other car models at the former NUMMI facility in Fremont, California, near the company's Palo Alto headquarters. The plant is one of the most advanced and cleanest production facilities in the world. It can put out 500,000 cars annually, or 1 percent of the world's total car production.

The NUMMI plant was most recently used to produce Toyota's Corolla and Tacoma models. Tesla purchased the facility for its turnkey qualities and room for large-scale expansion.

"The Tesla Factory effectively leverages an ideal combination of hardcore Silicon Valley engineering talent, traditional automotive engineering talent, and the proven Toyota production system," Tesla CEO Elon Musk said. "The new Tesla Factory will give us plenty of room to grow."

The Model S will be the world's first pure electric premium sedan. Its starting price is $49,900, and buyers can take advantage of a federal tax credit. The Model S will be able to travel up to 300 miles on a single charge with an optional extended-range battery pack.

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