(Photo Credit: Tomohiro Ohsumi/Bloomberg)
By Alan Ohnsman
Tesla Motors Inc. (TSLA)’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 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.
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They might as well build it here in Texas so that the batteries don’t have to be shipped very far. I drove behind one of these cars the other day in Austin: wild exotic headlights and fat cat at the wheel.