Tesla Granted Tax Break to Boost Californian Production

If an annual award was given out to an automaker for expanding the most rapidly across a calendar year, you’d be hard pressed to find a company other than Tesla Motors that has absolutely skyrocketed in popularity this year. Despite the Californian electric automaker only producing one model, the Model S, sales of the car continue to rise with the car recently entering both the European and Chinese markets.

Additionally, Tesla Motors is continuing to build up its supercharger network across the U.S. as well as Europe. Now it has been announced that the company will receive a $34.7 million tax break from the state of California is order to further increase production!

The electric automaker is being allowed to purchase $416 million of new production equipment tax free. As it currently stands, Tesla motors is producing around 21,500 cars annually. However, this tax break will help the company achieve its long-term goal of lifting that to over 56,000. All up, the added production will add 112 jobs. Tesla is no stranger to receiving tax breaks with the company having already received exemptions on up to $612 million of equipment!

State Treasurer of California Bill Lockyer said, “I’m pleased we could take this action to encourage Tesla to expand its electric vehicle production in California, which will create green jobs and improve our air quality.”

[Via SF Gate]

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