California locks in Tesla sedan plant with tax deal

Newswire

LOS ANGELES, Oct 28 (Reuters) - California struck a tax incentive agreement with Tesla on Wednesday to ensure that the electric vehicle maker builds its sedan production facility in the state, possibly in the Los Angeles area. Governor Arnold Schwarzenegger's office said a state agency will temporarily hold title of $320 million worth of equipment to be purchased by Tesla and will not pay the sales tax on the transaction. That tax arrangement will allow Tesla to save more than 9 percent ...

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