Advertisement

Tesla Motors dealing as states play factory poker

Created: 08/31/2014 11:47 AM
By: JUSTIN PRITCHARD, Associated Press

(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.

(Copyright 2014 The Associated Press. All rights reserved. This material may not be published, broadcast, rewritten or redistributed.)


KOB welcomes a lively and courteous discussion as long as you follow the rules of conduct set forth in our Terms of Use. Comments are not pre-screened before they post. You agree that anything you post may be used, along with your name and profile picture, in accordance with our Privacy Policy and the license you have granted pursuant to our Terms of Use.

Join Our Email List



Advertisement

Advertisement