The world’s largest lithium-ion battery factory just received a massive tax break.
Nevada Governor Brian Sandoval has approved $1.3 billion in tax breaks for Tesla along with a measure that will allow the electric American automaker to sell its vehicles directly to state residents. The bill was signed minutes after the Assembly and Senate unanimously agreed to write off Tesla’s sales taxes for 20 years along with property and business taxes for a decade.
SEE ALSO: Tesla to Build Gigafactory in Nevada
The tax breaks are another component to the deal that was unveiled September 4 and will help create the first Gigafactory that will supply batteries to 500,000 vehicles. The Gigafactory is expected to employ 6,500 people with an average wage of over $25 an hour and will begin operations in 2020.
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[Source: Bloomberg]
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