Calif. Gives Tesla $35M Tax Break To Boost Production

Law360, New York (December 19, 2013, 2:53 PM ET) -- The state of California agreed Wednesday to give automaker Tesla Motors a $35 million tax break for expansion of its electric vehicle production line, allowing the company to buy equipment without paying sales and use tax.

The California Alternative Energy and Advanced Transportation Financing Authority approved the tax exemption measure, with State Treasurer Bill Lockyer saying Tesla is expected to buy $415 million in tax-free equipment to pump up electric Model S and powertain sales.

“I’m pleased we could take this action to encourage Tesla to...
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