Tesla to nab $65M in tax breaks if it builds Cybertruck factory in Texas
Travis County, Texas, where Tesla eyes a new Gigafactory, has approved the tax breaks. Now the EV maker needs to make its decision.
The battle for Tesla's second US-based vehicle manufacturing plant heated up Monday after Travis County, Texas approved a tax break worth $14.7 million, if the electric carmaker builds a new factory in the Austin area.
Reuters reports that along with the $14.7 million, Austin's Del Valle school district also approved a $50 million tax break, which would cut Tesla out of funding local schools. Combined, Tesla has just under $65 million in tax breaks on the table, should it select Austin.
It's not clear whether Austin is the frontrunner for the new facility. Tulsa, Oklahoma is reportedly a second finalist for the factory, which will primarily assemble the Tesla Cybertruck. This new facility will also handle Model Y production for the east coast, according to CEO Elon Musk .
Financial details surrounding a possible Oklahoma site haven't surfaced, which could suggest Austin is the leading candidate. Tesla did not immediately respond to a request for comment on the selection process. Tulsa has promised numerous little incentives, such as buying a fleet of Cybertrucks to use as police vehicles. The area even painted its famed Golden Driller statue with Musk's face and a giant red T in a bid to woo the automaker.
According to the report, the new facility would create 5,000 new jobs and production could start as soon as later this year.
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