States Face High Stakes in Bid for Tesla Factory

By: AP Email
By: AP Email
Tesla Motors has five states bidding to attract a $5 billion factory that will make batteries for a new generation of electric cars. The winner is expected to offer publicly financed incentives exceeding a half-billion dollars.

MGN Online

LOS ANGELES (AP) - It's the corporate equivalent of high-stakes poker.

Tesla Motors has five states bidding to attract a $5 billion factory that will make batteries for a new generation of electric cars. The winner is expected to offer publicly financed incentives exceeding a half-billion dollars.

And the package could be far more, because the states don't know what their competitors are offering.

So far, Tesla has done initial work on a potential site in Nevada. But the company will prepare at least one other before making a final decision by year's end.

That leaves California, Texas, Arizona and New Mexico wondering what they can do to be a finalist.

So far, the states have passed tax breaks, promised worker-training funds or proposed shelving environmental regulations that could slow the factory's construction


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