Tesla Inc. secured a major tax incentive for its $10 billion Project Crystal Sun solar cell plant in Fort Bend County, Texas. The Lamar Consolidated Independent School District board approved a 50% tax reduction for the facility. This agreement will remain in effect from 2029 through 2038.
CEO Elon Musk intends to scale domestic solar manufacturing for both commercial and residential sectors. Tesla’s energy segment has grown 700% since 2019. The company expects this expansion to support the high electricity demands of its future robotaxi fleet.
In Japan, the Tesla Model Y price fell below $23,000. Government subsidies and a weaker yen contributed to the price decrease.