Monday, August 4, 2014

New Mexico Lawmakers Ponder $500M Investment For Tesla Gigafactory

New Mexico lawmakers are pondering an expected $400M to $500M in investment that is expected to contribute, if Tesla Motors selects the state for its new "gigafactory". Tesla Motors, which has been looking to create a gigantic factory to produce batteries and other components for its electric cars, has been shopping around the west for a location for its $5 billion "gigafactory", looking at locations in Arizona, New Mexico, and Nevada, among others. According to the Albuquerque Journal, New Mexico is still continuing negoations with Tesla Motors. Elon Musk said last week he expects states to pony up around 10 percent of the cost of the new factory.