Gigafactory in Nevada, is it a Loss for Texas?

lostThe Gigafactory will rise outside of Reno, Nevada and not in Texas. The state of Nevada offered a generous package in sales tax and other incentives to Tesla Motors Inc. It is a total of $1.25 billion package.

In return, the company will invest $3.5 billion in property improvements and equipment to Tahoe Reno Industrial Center, a site outside Reno.

Gigafactory has the capacity in producing 500,000 battery packs annually and will be a big factory, as per CEO Elon Musk.  According to Nevada Gov. Brian Sandoval the factory will generate close to $100 billion for the Nevada economy.

Nevada is nearer to Tesla’s factory in Fremont, California. It will be a great market to the environmentally-conscious residents.

Read more about this story here

Scroll to Top