Nevada offers Tesla up to $1.3B for battery plant

CARSON CITY, Nev. (AP) — Gov. Brian Sandoval announced Thursday that Nevada won a high-stakes battle with four other states for Tesla Motors’ coveted battery factory, but the win comes with a hefty price tag — up to $1.3 billion in tax breaks and other incentives over 20 years that state lawmakers still must approve.

Sandoval revealed terms of the deal he negotiated with the electric car maker at a ceremony on the Capitol steps attended by Elon Musk, CEO of California-based Tesla. Musk confirmed the search was over for a home for his $5 billion lithium battery “gigafatory,” which the company hopes will bring it closer to mass production of a more affordable electric car.