Friday, July 31st34.5°C
26925
24949

AP source: Tesla Motors selects Nevada as site for $5 billion electric car battery factory

RENO, Nev. - Tesla Motors has chosen Nevada as the site for a massive, $5 billion factory that will pump out batteries for a new generation of electric cars, a person familiar with the company's plans said Wednesday.

The person, who spoke on condition of anonymity because no official announcement had been made, said work would soon resume at an industrial park outside Reno.

Four other states — California, Texas, Arizona and New Mexico — were vying for the project and the estimated 6,500 jobs it will bring.

Nevada Gov. Brian Sandoval's office said only that the governor would make a "major economic development announcement" Thursday afternoon. A spokesman for Tesla, based in Palo Alto, California, said company representatives would be at the Capitol for the announcement but offered no other details.

Tesla has done site-preparation work at the Reno Tahoe Industrial Center but had not publicly committed to building in Nevada, instead waiting as other states put together their best packages of economic incentives.

This spring, Tesla CEO Elon Musk announced that the company would take the extremely unusual step of spending millions to prepare sites in two states — or perhaps even three — before choosing the finalist.

The person familiar with Tesla's plans told The Associated Press that a second site would still be prepared, in case Nevada is unable to deliver the incentives it has promised — or possibly to build a second factory.

Tesla needs what it calls the "gigafactory" to make cheaper batteries for its Model 3, a mass-market electric car the company hopes to sell by 2017 for around $35,000.

Currently, Tesla offers only the Model S sedan, which starts at $70,000. Tesla will pay about half of the factory's cost; the other major investor is Panasonic, which will manufacture the lithium-ion battery cells and invest in equipment.

Lance Gilman, principal and director of the Reno Tahoe Industrial Center 15 miles east of Reno, said he had not been told of the decision.

"It would be the most exciting news of the century to me," he said.

___

Juliet Williams in Sacramento, California, contributed to this report. Pritchard reported from Los Angeles. Contact him at https://twitter.com/lalanewsman

The Canadian Press


Read more Business News

26744


Recent Trending




Today's Market
S&P TSX14468.44+85.68
S&P CDNX594.31+6.01
DJIA17689.86-56.12
Nasdaq5128.28-0.50
S&P 5002103.84-4.79
CDN Dollar0.7639-0.0053
Gold1096.90+0.60
Oil47.20-1.71
Lumber252.30+0.50
Natural Gas2.883+0.062

 
Okanagan Companies
Pacific Safety0.17-0.01
Knighthawk0.010.00
QHR Technologies Inc1.42+0.00
Cantex0.035-0.005
Anavex Life Sciences0.92+0.12
Metalex Ventures0.05+0.00
Russel Metals19.40-0.05
Copper Mountain Mining0.79+0.01
Colorado Resources0.065+0.005
ReliaBrand Inc0.0049+0.0004
Sunrise Resources Ltd0.03+0.00
Mission Ready Services0.095-0.045
Decisive Dividend Corp2.55+0.05

 





FEATURED Property
23637182287 Selkirk Drive
4 bedrooms 3 baths
$699,000
more details
image2image2image2
Click here to feature your property
Please wait... loading


Chasing ducks

Photo: Thinkstock.comWhen businessmen tell me that being low priced is the only way to stay in business, I am skeptical. Price is the simplest way for a consumer to compare and is overused as the basi...


Taking care of business

Photo: Thinkstock.comRetirement as a goal has changed a lot over the years. There was a time, it was the only goal. You’d punch the clock and count the years until you could stop punching that t...


Income from home equity

Photo: Thinkstock.comWhen retirement funds run low, seniors often ask if tapping into the equity in their home is the right way to retain financial independence. To see if this option might be a good ...

_








Member of BC Press Council