Musk’s Billion Tesla Gigafactory May Start Bidding War
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Musk’s $5 Billion Tesla Gigafactory May Start Bidding War

(Photo Credit: Tomohiro Ohsumi/Bloomberg)
By Alan Ohnsman
Tesla Motors Inc. (TSLA)’s plan to build what co-founder Elon Musk bills as the world’s largest battery factory could shake up the power industry and trigger a bidding contest between states eager for the 6,500 jobs the $5 billion investment could create.
The luxury electric-car maker announced yesterday that it’s selling at least $1.6 billion of convertible notes to finance the project and exploring locations in Texas, Nevada, Arizona and New Mexico for a 10 million-square-foot facility. Tesla declined to comment on whether any negotiations had begun.
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One Comment
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They might as well build it here in Texas so that the batteries don’t have to be shipped very far. I drove behind one of these cars the other day in Austin: wild exotic headlights and fat cat at the wheel.
Comments are closed.
They might as well build it here in Texas so that the batteries don’t have to be shipped very far. I drove behind one of these cars the other day in Austin: wild exotic headlights and fat cat at the wheel.