Published 09:49 IST, July 14th 2020
Giant Elon Musk statue, free pizza for staff: 2 US states dish out freebies to woo Tesla
Electric car maker Tesla is soon expected to make a decision on a place to build its USD 1.1 billion vehicle assembly plant which will create 20,000 new jobs.
- Republic Business
- 3 min read
Tesla Inc is soon expected to make a decision on a location to build its USD 1.1 billion vehicle assembly plant which will create 20,000 new jobs. According to media reports, CEO Elon Musk has shortlisted Tulsa in Oklahoma and Austin, Texas and the contest between the two places has heated up. Reports suggest that Musk Elon Musk has fueled a bidding war over tax breaks and other concessions that would reduce the factory’s cost.
The new factory will be Tesla’s biggest so far. The new factory would build Tesla’s upcoming “Cybertruck” as well as be a second site to build the Model Y small SUV.
Locals repaint 'Gold Driller' statue
Tesla has informed the Texas officials that the new plant would create at least 5,000 jobs, whereas the Oklahoma officials were told about the creation of at least 7,000 jobs in the near term and up to 20,000 jobs ahead. In Oklahoma, recently, a 75-foot statue called the 'Gold Driller' was repainted by a local Tesla fan club to make it look somewhat identical to Musk. They drew a Tesla logo on its chest and a belt buckle was coloured with the company’s name.
Meanwhile, a Tulsa pizzeria has promised to give out free pies to all Tesla employees. Elon Musk on July 3, visited Tulsa to visit the undeveloped site. Oklahoma Governor tweeted pictures with Musk and said, "Oklahoma is the right place for Tesla and I thank all of the Oklahomans who have shown their overwhelming support. Keep it up!" Oklahoma officials have made their pitch to senior of Tesla employees last week via video conferencing. Earlier, the company had short-listed eight central U.S. states but only Tulsa and Travis County remain as the contenders.
'Tesla in Tulsa'
Last week, Elon Musk became the seventh-richest person in the world, surpassing legendary investor Warren Buffett, as Tesla’s stock continues to skyrocket. Musk surpassed Buffett on Friday after Tesla shares hit an all-time high, giving Musk a net worth of about $70.5 billion, roughly $1 billion more than Buffett, according to Bloomberg’s calculations.
The electric car maker is scheduled to report second-quarter earnings on July 22. There has been speculation Tesla could be promoted to the S&P 500 following the report. Elon Musk currently owns at least 20.8% of Tesla’s stock and he is also the primary shareholder of SpaceX.
(With agency inputs)
Updated 11:01 IST, July 14th 2020