Tesla Inc. (TSLA) and Travis County, Texas, are negotiating the terms of a possible incentives package to bring the company's next factory to the area, according to a report ( the Austin American-Statesman Monday. County commissioners are scheduled to discuss the deal in an executive session Tuesday, and a vote is expected "in the coming weeks," the newspaper said, citing people with knowledge of the proceedings. Tesla reportedly has shortlisted Austin and Tulsa, Okla., as the possible locations for the plant, which would be its second U.S. car-making factory after its long-standing plant in Fremont, Calif. It was unclear whether the discussions in Texas meant that the Austin area had been selected as the location or if the company continued to discuss the matter with other locations. Back in 2014, Nevada agreed to about $1.3 billion in incentives ( ) to bring the Tesla's battery factory to the state, and estimated then that the "gigafactory" would bring $100 billion in economic activity over the next 20 years. Shares of Tesla rose nearly 6% on Monday.
-Claudia Assis; 415-439-6400; AskNewswires@dowjones.com
(END) Dow Jones Newswires
June 15, 2020 16:06 ET (20:06 GMT)
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