TSLA: Gov. Rick Perry Wants to Bring Tesla Gigafactory to Texas

Texas Governor Rick Perry is hoping to persuade Tesla Motors (TSLA) to build its new battery “gigafactory” in the Lone Star State.

TexasPerry has been touting the advantages of Texas compared to California, which he claims is no longer a hospitable place for businesses due to high taxes, regulations and lawsuits. Last week, Perry appeared at the Sacramento Grand Hyatt Hotel, driving a TSLA Model S, the Sacramento Bee noted.

An advisor to California Governor Jerry Brown promptly pointed out that Texas still bans direct-to-consumer vehicle sales. TSLA CEO Elon Musk has tried to convince the Texas legislature to repeal the restriction, but the powerful car dealers association is a major donor to Texas politicians.

California is offering property tax exemptions that could benefit Musk’s solar power venture, SolarCity (SCTY) and the state’s proposed budget features a new program to allow electric car owners to use carpool lanes even without passengers.

Tesla has said it is considering sites in Arizona, Nevada, New Mexico, Texas and California for the new factory.

In Monday morning trading, Tesla stock rose more than 3%.

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Article printed from InvestorPlace Media, https://investorplace.com/2014/06/tsla-gov-rick-perry-wants-bring-tesla-gigafactory-texas/.

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