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Tesla Motors to set up factory and HQ in San Jose

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Tesla Motors to set up factory and HQ in San Jose

Electric car company Tesla Motors Inc. plans to move its headquarters to San Jose and build its upcoming electric sedan at a factory to be set up there.

The news was reported this morning by the Silicon Valley / San Jose Business Journal, a sister paper to the Business Times.

The company, now based in San Carlos, has leased land on the border between San Jose and Santa Clara for its new home, and needs the OK of both cities for the deal.

The San Jose factory will roll the first Model S out during the fourth quarter of 2010, Tesla said, and plans to produce about 15,000 during its first year.

The company added that it expects its new factory and corporate headquarters to create about 1,000 jobs.

In June, the company said it would build the latest model in California after saying earlier it had chosen New Mexico. Tesla’s CEO, Ze’ev Drori, said he wanted to keep the car manufacturing in California, where the company has been since it was founded in 2003.
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I really hope this company does well. It would be nice to have at least ONE automaker that can make a profit. Even if it is tiny
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