A billion reasons for Tesla Motors to pick Nevada

|About: Tesla Motors (TSLA)|By:, SA News Editor

The state of Nevada offered Tesla Motors (NASDAQ:TSLA) $1B worth of benefits in the form of tax breaks and abatements spread out over 20 years in order to win the gigafactory, according to Governor Brian Sandoval.

Tesla CEO Elon Musk kept his statement simple, saying the gigafactory will allow for the mass production of EVs for decades to come.

What to watch: The gigafactory promise from Tesla is for 50GWh in annual production by 2020. That works out to a run rate of 500K Tesla cars.