Thanks Tony
Quote:
Under the deal, California would use the California Alternative Energy and Advanced Transportation Financing Authority, a rarely used state entity formed in 1980, to finance the purchase of an estimated $100 million worth of manufacturing equipment.
The equipment would be leased to Tesla, whose payments to the state would be used to pay off the equipment purchase.
The company can buy the equipment from the state at the end of the lease term but would not have to pay sales tax on the purchase, said Tom Dresslar, a spokesman for the state treasurer. That would save Tesla as much as $9 million, he said.
The exemption "was a key factor for Tesla to come back to California," Dresslar said.
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$100 million doesn't cover much. With the announcement of moving motor production this is all transportation/logistics driven. Potential to save a lot of money.
Quote:
Originally Posted by tonybelding
So. What about New Mexico?  |
I guess higher gas prices have attracted better offers? California likes to be at the forefront of US eco-initiatives, but yes, a rich state has stolen a poorer state's candy.