Tesla Motors Inc (TSLA) Creates 2,000 Jobs With Production Expansion

Tesla stockBlomst / Pixabay

Recently it was reported that the State of California gave Tesla Motors Inc (NASDAQ:TSLA) a tax break on equipment so that it could expand its production capabilities. Along with that expansion, the company will create more than 2,000 new jobs in the Freemont, Calif. area, according to Inside EVs.

Tesla increases production, adds jobs

The site reports that Tesla will be creating 2,050 new jobs (both direct and indirect) when it expands its production facility. The automaker will bring its production capabilities from 21,500 vehicles this year up to 56,500 vehicles next year. Inside EVs estimates that 115 new jobs will come as a direct result of the tax break given by California. That’s in line with CNBC, which estimated 112 new jobs last week.

Insider EVs lists the other 1,935 as indirect jobs. The site doesn’t really explain exactly what it means by “indirect jobs.”

Tesla also receives zoning law exception

Tesla Motors Inc (NASDAQ:TSLA) is apparently well-liked in California, where it sells most of its vehicles and lawmakers probably like it as much as auto dealerships for the amount of tax revenue it brings in. Last week it was revealed that Tesla received approval to erect a huge sign at its showroom in Palo Alto. The city’s architectural review board voted unanimously to allow Tesla to put up two signs which, together, take up more than the limit of 100 square feet.  One sign will be erected on the façade of the building.

In spite of suggestions that Tesla received an exception to zoning laws because of its size or popularity, the same board apparently made an exception for a budget grocery store chain setting up shop in Palo Alto. Tesla Motors Inc (NASDAQ:TSLA) moved into what was previously an empty building, and the new grocery store will be taking over another empty structure. Clearly the board is more interested in filling empty buildings than in catering to a company like Tesla, no matter how much tax revenue the automaker generates for California.

For exclusive info on hedge funds and the latest news from value investing world at only a few dollars a month check out ValueWalk Premium right here.

Multiple people interested? Check out our new corporate plan right here (We are currently offering a major discount)






About the Author

Michelle Jones
Michelle Jones was a television news producer for eight years. She produced the morning news programs for the NBC affiliates in Evansville, Indiana and Huntsville, Alabama and spent a short time at the CBS affiliate in Huntsville. She has experience as a writer and public relations expert for a wide variety of businesses. Michelle has been with ValueWalk since 2012 and is now our editor-in-chief. Email her at [email protected]

Be the first to comment on "Tesla Motors Inc (TSLA) Creates 2,000 Jobs With Production Expansion"

Leave a comment