We’re the ‘underdog’ for gigafactory choice, but Tesla once an ‘underdog’: Oklahoma official

Oklahoma is holding out hope that Tesla will choose Tulsa as the location for the electric vehicle maker’s next gigafactory.

“There is no question that we are the underdog, but so has Tesla been the underdog for a long time,” Sean Kouplen, Oklahoma secretary of commerce, told Yahoo Finance’s On The Move.

Tulsa is up against frontrunner Austin, Texas for Tesla’s upcoming Cybertruck gigafactory.

“We, just like Austin, are putting our best foot forward to try to attract them to our state,” said Kouplen. “Certainly we think we have a very competitive package.”

“We feel like we have a better location. We are a manufacturing hub. That’s what we do here, so we have a tremendous work force,” he added.

Landing Tesla in Tulsa would be a boon for the second largest city of Oklahoma.

“When you think about adding between 7,000 and 20,000 jobs to a city of a million people like Tulsa and the type of investment that we know they’re considering making, it could really be a game changer,” said Kouplen.

The race to attract Tesla began back in March when Musk tweeted he was looking for locations for the Cybertruck Gigafactory. Kouplen responded to the tweet, and so began the courtship.

If Musk were to pick Tulsa, it would be quite the statement of how drastically times have changed, given the city’s former nickname — “the oil capital of the world.”

Ines covers the US stock market from the floor of the New York Exchange. Follow her on Twitter at @inesreports.

Read more:

It would be unprecedented for a bear market to be this short: Wells Fargo Strategist

Recent rally could be a ‘bear market trap’: Miller Tabak Strategist

A view from the trading floor: Algorithms having ‘outsized impact’ amid coronavirus impact

Follow Yahoo Finance on TwitterFacebookInstagramFlipboardSmartNewsLinkedIn, YouTube, and reddit.

Source Article