Las Vegas Sun

March 28, 2024

Tesla receives $8 million in tax credit for Gigafactory

Tesla Factory Sneak Peek

Construction workers are seen in the through uncompleted D section of new Tesla Motors Inc., Gigafactory, Tuesday, July 26, 2016, in Sparks, Nev. It’s Tesla Motors biggest bet yet: a massive, $5 billion factory in the Nevada desert that could almost double the world’s production of lithium-ion batteries by 2018. (AP Photo/Rich Pedroncelli)

While it was widely reported that Tesla received $1.3 billion in incentives from the state of Nevada to build its factory east of Reno, the automaker has only received a fraction of that amount so far and it is gradually unlocking portions of it as it reaches job and investment requirements under the agreement.

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