TSLA

Texas county approves tax subsidies for new Tesla vehicle factory

Credit: REUTERS/Lucy Nicholson

July 14 (Reuters) - A central Texas county that includes Austin on Tuesday approved a plan to provide millions in tax subsidies to Tesla Inc TSLA.O if it builds a $1.1 billion vehicle factory in their community.

A majority of commissioners in Travis County voted in favor of providing the electric carmaker with a tax rebate worth at least $14.7 million. One commissioner abstained after asking for a week's delay.

Commissioners in favor of the agreement decided to move forward after a representative of Tesla said executives of the electric auto maker had met with the governor of a rival state, without naming the state.

(Reporting By Joe White Editing by Chris Reese)

((Joe.White@thomsonreuters.com;))

The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of Nasdaq, Inc.

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