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Tesla looking at Dallas area for 'gigafactory': report

Tesla looking at Dallas area for 'gigafactory': report

07/10/2014

SAN FRANCISCO (MarketWatch) -- Tesla Motors Inc. (TSLA) may be looking at land in southern Dallas County for its proposed $5 billion battery plant, according to a report on The Dallas Morning News website. The newspaper quoted a regional transportation official as saying an unidentified site "may be placed under consideration" for the "gigafactory" and that transportation improvements will be needed. In addition to Texas, Arizona, California, Nevada, and New Mexico are vying for the plant, which is expected to employ more than 6,000 workers and bring down the cost of batteries enough for Tesla to launch its mass-market electric car. Tesla had said it would make an announcement about the factory's location by the end of June, but has kept mum on the issue after that deadline. Shares of electric car maker fell 0.7% on Thursday, bringing weekly losses to 3.3%.

-Claudia Assis; 415-439-6400; AskNewswires@dowjones.com

 

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(END) Dow Jones Newswires

07-10-14 1247ET

Copyright (c) 2014 Dow Jones & Company, Inc.

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