Source: Bloomberg
Summary
Tesla is planning to build a large solar factory in Texas and is seeking incentives from the state to help cover the costs. The factory would produce solar panels and other equipment for Tesla’s clean energy business. The company has not disclosed the exact location or size of the factory, but it has said it would create hundreds of jobs. Tesla is in talks with Texas officials to secure incentives, which could include tax breaks, grants, or other forms of support.
Our Reading
The announcement sounds ambitious. Tesla wants to build a massive solar factory in Texas, but first, it wants the state to chip in. Because that’s how innovation works: with a healthy dose of public subsidies. The factory would produce solar panels, because the world really needed another one of those. Hundreds of jobs would be created, which is great, until the robots take over. This is the part where we pretend this isn’t just another iteration of the same old thing.
Author: Evan Null
