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Tesla Gigafactory coming to Reno, Nevada with $1.2 billion in tax incentives

You want details on the Gigafactory? You got 'em. At least the preliminary ones. At an event with Nevada Governor Brian Sandoval this afternoon, Tesla Motors announced that its first Gigafactory will be built outside Reno. As was leaked yesterday and confirmed by unnamed state officials today, the plant will be where Tesla will make a big statement not only about EVs but also the power of Nevada to further that particular fight. The incentive package is worth $1.2 billion over 20 years. Tesla CEO Elon Musk, speaking in Carson City, said that Nevada did not offer the biggest incentive package, but that, "This is not just about the incentives. [Nevada is a] really get things done state. That was a really important part of the decision," according to the Reno Gazette-Journal. That said, the incentive package is still more than twice what Musk originally said would be needed. The state worked out a deal with the automaker that will be wordh $1.2 billion over 20 years and should basically let Tesla operate tax-free for ten years, the RGJ reports. That will not surprise some people. The RGJ breaks down the numbers this way: $725 million for a 20-year 100 percent sales tax abatement $332 million for a 10-year 100 percent property tax abatement $120 million in transferable tax credits $75 million in transferable tax credits worth $12,500 per job times 6,000 jobs). $27 million for a 10-year, 100 percent modified business tax abatement $8 million in discounted electricity rates for eight years The Gigafactory is Tesla's answer to the question of how it will be able to make a $35,000 EV that will be able to over 200 miles on a charge. Tesla CEO Elon Musk has said that a 30-percent decrease in cost for the batteries is "probably conservative at this point." The Reno Gigafactory could be in operation by late 2016. Tesla is partnering with Panasonic on the plant. The governor thanked Senator Harry Reid, who he said played an important role. Whether the Reno announcement is the first of many remains to be seen. For now, the other states that wanted the plant, like California and Arizona, remain hopeful. Tesla's official statement and a short local news report on yesterday's rumors are available below. This content is hosted by a third party. To view it, please update your privacy preferences. Manage Settings.

Recharge Wrap-up: AutoNation CEO calls anti-Tesla laws unnecessary, Common Pence donates subway money

Volkswagen has presented a list of near-term technologies to improve fuel economy and decrease emissions. The list includes an addition to a coasting function in its stop-start system, a 10-speed DSG transmission and a more power-dense four-cylinder TDI engine. Volkswagen aims to be the world's most sustainable automaker by 2018 through electric mobility, improved design and increased environmental performance from internal combustion vehicles. Volkswagen also announced other technologies for increased interactivity and connectivity in its vehicles. Read more at Green Car Congress. Commence Pence is a system that allows subway riders in London to donate their unused transit money to charity. People visiting the city often load up enough on their subway card (called Oyster Card) to get them through their trip and end up with unused funds leftover. Zander Whitehurst, a British designer, has created a device that can use the card's RFID to accept leftover funds, which then get diverted to charity rather than reverting back to the agency in charge of running the subway fare system. See the video below or read more at Wired. Mike Jackson, CEO of AutoNation has called Michigan's efforts to ban Tesla's direct sales in the state "unnecessary protectionism." The statement comes as a bit of a surprise, as it dissents from the majority of auto dealers who support a franchise model, as well as laws that forbid automakers selling directly to the consumer. "If Elon Musk wants to make a mistake and go with an inefficient distribution system, that's his right as an American," says Jackson, showing he feels he has little to fear from the electric automaker. Jackson has more to say on the matter, which you can read over at Green Car Reports. This content is hosted by a third party. To view it, please update your privacy preferences. Manage Settings. Featured Gallery Tesla Stores Around The World View 22 Photos News Source: Green Car Congress, Wired, Green Car ReportsImage Credit: Rick Bowmer / AP Government/Legal Green Tesla Volkswagen Fuel Efficiency Transportation Alternatives Electric recharge wrapup

Tesla Model S will get price increase

Tesla has confirmed the Model S will soon see a price increase. The company has yet to release details on how much more the critically acclaimed electric vehicle will cost moving forward, but has released a few details about how the shift will affect buyers with existing reservations. Tesla says the increase will not apply to anyone who has a reservation so long as they configure and finalize their order "within a fair and predefined timeframe." Likewise, those buyers who deferred their reservations will be able to keep the original pricing by finalizing their order within the same timeframe.
Tesla says the price shift will also include changes to the Model S option package structure, and that some features currently considered standard equipment will become added cost options in the future. As with the overall price increase, these changes will not impact those with current orders, reservations or deferred reservations. Expect to hear more about the price increase as information becomes available, and in the meantime you can read the brief press release below for more information.