Good news for motor-heads (and electric-heads?) in the bay area. Tesla is planning a factory spread across an 89-acre plot of land in San Jose. This factory should bring about 500 - 1,000 jobs to the area, although half of those might be relocations from current locations.
The new factory should be set up to churn out about 300 of their new sedans a week. This doesn't sound like a number to put the words "churn out" in front of, until you realize they are currently producing only 10 coupes a week in two locations. That should help them finally come closer to matching demand.
There is something that could be a snag in the plans - Tesla is looking at a quarter of a billion dollars in financing from Goldman Sachs and the Department of Energy to set all this up. They're also counting on Governor Arnold Schwarzenegger's tax breaks to the tune of over $15 Million. With all the current financial turmoil, lets hope there are no snags.
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