An unprecedented package of economic incentives to bring Tesla Motors’ $5 billion lithium battery factory to Nevada won unanimous approval from the state Legislature late Thursday and Gov. Brian Sandoval was preparing to quickly sign it into law.
Opposition emerged Wednesday as Nevada lawmakers began negotiating over whether to approve a complex package of up to $1.3 billion in incentives for Tesla Motors in a special session ordered by Gov. Brian Sandoval to seal the deal to bring the electric car-maker’s $5 billion battery factory to the state.
Nevada Gov. Brian Sandoval announced Thursday that Tesla Motors will build a massive battery factory in the state as long as legislators approve tax breaks and other incentives worth up to $1.3 billion over 20 years.
Tesla Motors has selected Nevada for a massive, $5 billion factory that it will build to pump out batteries for a new generation of electric cars.
Earlier this week, budget watchdogs wrote an open letter warning five states, including California, not to offer too many incentives to Tesla.
Known for its annual music festival, the Coachella Valley in Southern California has emerged as a potential location for Tesla Motors to build its widely anticipated battery factory.
Electric car maker Tesla Motors says it is preparing a site near Reno, Nevada, as a possible location for its new battery factory, but is still evaluating other locations.
California is making a late push to land electric-car maker, Tesla Motors’ new high-tech battery factory that would create thousands of jobs.
Tesla Motors, makers of luxury and performance electric cars, will now have a smaller fourth version Model 3 priced at $35,000 to compete with the BMW 3 Series and at the same price as a loaded Toyota Prius, making owning a Tesla much more plausible for the rest of us.
Gov. Jerry Brown announced Thursday that he signed legislation that creates a $420 million tax credit for aerospace contractor Lockheed Martin and includes similar tax incentives designed to benefit California-based electric car maker Tesla Motors Inc.