Texas Being Eyed For Tesla Battery Plant That Could Employ 6500
Tesla Motors Inc.’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 Texas and other 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.
“This would rank as the most attractive industrial project out there,” said Dennis Cuneo, president of DC Strategic Advisors LLC and a former Toyota Motor Corp. executive who helped that carmaker select manufacturing sites.