Market Overview

Tesla Motors, Inc. Picks Reno For Gigafactory Site

Share:
Related TSLA
Why Mobileye Investors Could Be The Biggest Winners In The Autonomous Auto Race
10 Companies Apple Almost Bought In The Past 10 Years
Is Tesla Building The Right Battery? (Part 1) (Seeking Alpha)

Tesla Motors, Inc.'s (NASDAQ: TSLA) much sought-after Gigafactory for battery manufacturing will come to Nevada, according to multiple news reports.

Sources within Nevada Governor Brian Sandoval's office apparently leaked the news to media outlets Wednesday, when the governor's office slated a news conference Thursday concerning a “major economic development announcement.”

Tesla Chief Executive Elon Musk told shareholders earlier this summer that Reno “could potentially" be chosen for the project, expected to create 6,500 jobs.

The company around that time announced a joint venture with Panasonic to build the $5 billion battery factory.

Other cities that had hoped to land the project included Stockton, California, and San Antonio, Texas as well as further locations in Arizona and New Mexico.

In after-hours trading Tesla gained 2.3 percent to $287.56 a share.

Posted-In: Elon Musk Gigafactory NevadaNews Events After-Hours Center

 

Related Articles (TSLA)

View Comments and Join the Discussion!