Tesla Motors to build factory for new electric sedan in California
At a time when American carmaker General Motors’ stock price has dipped to a level not seen since 1954 and Toyota is on the verge of overtaking GM in domestic auto sales, Governator Arnold Schwarzenegger announced that green automaker Tesla Motors will be building the production facility for its highly anticipated second generation vehicle, dubbed the Model S, in California. The state government was able to woo Tesla by offering it a multi-million dollar incentive package, including sales tax exemptions and grants for new worker training. The Model S is slated to begin production in two years and will be a fully electric sports sedan that seats five.
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