Tesla Motors Inc (NASDAQ:TSLA) is planning to set up a huge 6,300-square-foot advertising space outside its South Fremont compound for promotion of its new vehicles, says a report from Mercury News. This marks the sturdy relationship that the EV manufacturer has with its Fremont facility.
Final decision today
The proposal will be examined by the Fremont planning commission on Thursday night. Mayor Bill Harrison said that the proposal is big but that it is vital for the people to know that Tesla is in Fremont. Harrison said, “I support them branding themselves and them putting it out there that we’re the home of Tesla.”
ARK Invest is known for targeting high-growth technology companies, with one of its most recent additions being DraftKings. In an interview with Maverick's Lee Ainslie at the Robinhood Investors Conference this week, Cathie Wood of ARK Invest discussed the firm's process and updated its views on some positions, including Tesla. Q1 2021 hedge fund letters, Read More
A huge logo of Tesla Motors Inc (NASDAQ:TSLA) is already placed on the factory’s façade next to I-880, near the Milpitas border. Koohyar Fard Arya, Tesla Motors’ representative, was asked on Wednesday about the need for a bigger signboard, to which Arya replied, “Why do people put billboards anywhere?” and added, “Come to Thursday’s meeting and see why.”
Bending rules for Tesla
In Fremont, electronic billboards with moving images are not allowed, but stable illuminating images are acceptable. James Willis, a Fremont planner, said that the Palo Alto-based vehicle manufacturer’s signage might cross the standard 20-foot height limit by two times. Willis said that the billboards must be for rent, display off-site advertising and should be set up on a site with one use, and the Tesla billboard does not do any of these.
Tesla Motors Inc (NASDAQ:TSLA) is one of the biggest employers in Palo Alto, with a workforce of 4,000. It is housed in the city’s biggest building, which is a 212-acre property. According to Willis, the company’s huge property has convinced city staffers to give the green light to the company’s proposal. He added that a similar billboard would not be allowed for a small business.
The billboard will be the most-highlighted part of the 850-acre innovation center, where the city is planning to build about 4,000 housing units, and create 12,000 jobs, stores, restaurants, hotels, and convention facilities, along with parks, in the vicinity of the Warm Springs-South Fremont BART station. According to Harrison, Tesla is the frontrunner of the development’s vision and a good partner for Fremont.