When it comes to Tesla (TSLA) stock, there are people on both sides of the fence. While watching its share price day after day can lead to a lot of excitement, your time may be better served keeping close tabs on company news, as well as the electric vehicle market in general.

Last week, Elon Musk and company made one of its biggest decisions ever, selecting Nevada (just outside of Reno) as the location for its gigafactory. This is big news for the company, as well as investors, as a decision on this front has been a long time coming.

Speaking to the Reno Gazette-Journal, Musk made it clear that the decision was based on more than tax incentives, noting, “This is not just about the incentives.”

Pretty cut and dry, right? Furthermore, the executive director of the governor’s Office of Economic Development made it clear that Tesla must hold up its side of the deal or it could lose the incentives that make the Nevada location so attractive.

All in all, TSLA is taking advantage of a reported $1.2 billion in incentives over 20 years.

Do you believe Musk made the right decision? Or would Tesla’s gigafactory work better in another state, such as Texas?

Competition Keeps Coming

While Tesla continues to dominate the electric vehicle market, the competition is also making major strides.

Nobody will ever confuse the Model S and the Nissan (NSANY) Leaf, but the competition between the two is very real.

August was a good month for the Leaf, with it setting a personal best with 3,186 units sold last month. It may not be as exciting as the Model S. It may not be as appealing, inside or out. But the Leaf is well worth paying attention to, as more and more EV buyers are turning to this model, not the Model S, thanks to the lower price tag.

TSLA continues to come on strong, with more of the same on tap as its gigafactory is constructed.

As of this writing, Chris Bibey did not hold a position in any of the aforementioned securities.