Finance History | 45500 Fremont Boulevard — Forty-Two Million Dollars for a Closed Assembly Plant
· 2010-5
Unreviewed contributionBy kevin · · Report an issue
Find memories left by people near you.
Distribute Bounty
This will distribute the bounty equally among all qualifying memories. This action cannot be undone.
Cancel Bounty
Are you sure you want to cancel this bounty? The remaining amount will be refunded to your account.
Success!
Operation completed successfully.
Error
Something went wrong.
Finance History | 45500 Fremont Boulevard — Forty-Two Million Dollars for a Closed Assembly Plant
kevin
People treat Tesla as a later index heavyweight and a factory in Texas.
The first mass-production plant the company owned is this Fremont lot.
From 1962 the site built cars for General Motors. From 1984 to 2010 it ran as New United Motor Manufacturing, Inc., the GM-Toyota joint venture known as NUMMI.
NUMMI closed on 1 April 2010. The last car off the line that morning was a red Toyota Corolla.
On 20 May 2010 Tesla Motors announced it would buy most of the plant from Toyota and Motors Liquidation.
The price in the revised IPO prospectus was 42 million dollars in 2010 for about 210 of the site's 370 acres and the manufacturing buildings on them.
Toyota also agreed to buy 50 million dollars of Tesla common stock at the coming public offering.
Tesla listed on Nasdaq that June.
The company started in a corner of the 5.3-million-square-foot plant and reopened the factory in October 2010.
The first Model S sedan left the line in June 2012.
The public pin is the boulevard frontage at 45500 Fremont Boulevard. The interior floor is not a visitor hall.
The mechanism is a shutdown plant bought below replacement cost, then retooled for a battery sedan instead of a Corolla.
The later Texas and Shanghai plants sit on other maps.
This Fremont lot is where Tesla learned to build cars at volume on a line that already knew how.
Photo: Steve Jurvetson, CC BY 2.0, via Wikimedia Commons. Period view of the GM plant from the Nimitz Freeway: Belinda Rain, public domain, U.S. National Archives, August 1972.
changes?
delete this memory?
We detected that you have a Blox in your crypto wallet! We will import the Blox into your account.
Click on done below to complete the import.
Welcome Back!
Sign in to preserve cherished moments
Don't have an account?
Welcome!!
Sign up and start preserving cherished moments
?
?
Choose your payment method
Buy with Metablox Credit
Do you want to mint Blox with Metablox Credit?
Which Crypto would you like to use?
Purchase Confirmed!
Your Blox is being minted on-chain and will appear in your profile shortly.
Log in or sign up to claim your Blox.
How many credits do you want to buy?
$100 USD = 1 Metablox Credit = 1 Blox.
Use Metablox Credit to mint any Blox you want on the map.
expand_more