N.M. loses electric car plant to Bay Area

TESLA MOTORS IS DRIVING AWAY FROM ALBUQUERQUE. THE ELECTRIC CAR COMPANY HAD PLANS TO BUILD A ...  More »

TESLA MOTORS IS DRIVING AWAY FROM ALBUQUERQUE. THE ELECTRIC CAR COMPANY HAD PLANS TO BUILD A MANUFACTURING FACILITY ON ALBUQUERQUE'S WESTSIDE BUT THE COMPANY ANNOUNCED ITS PARKING ITS NEW PLANT IN CALIFORNIA. VALERIE CASTRO IS LIVE IN THE NEWSROOM WITH WHAT THE STATE'S SAYING ABOUT TESLA'S SHIFT... ALBUQUERQUE WOULD HAVE BEEN HOME TO THE WHITE STAR -- THE COMPANY'S NEWEST ELECTRIC SEDAN MODEL. BUT TODAY, IT WAS GOVERNOR ARNOLD SCHWARZENEGGER -- NOT GOVERNOR RICHARDSON WHO WAS REVVED UP ABOUT THE CAR COMPANY'S ANNOUNCEMENT. GOVERNOR RICHARDSON ANNOUNCED LAST FEBRUARY THAT THIS SITE NEAR I-40 AND PASEO DEL VOLCAN WOULD BE HOME TO THE NEW PLANT -- BRINGING SOME 4- HUNDRED JOBS ALONG WITH IT. BUT A SIMILAR ANNOUNCEMENT IS NOW EXPECTED FROM GOVERNOR SCHWARZENEGGER. TODAY HE TOURED THE TESLA HEADQUARTERS IN SAN CARLOS, CALIFORNIA -- THE PLACE WHERE TESLA WILL NOW MAKE THE ELECTRIC SEDAN. TESLA MOTORS IS FAMOUS FOR IT'S ELECTRIC ROADSTER -- GOVERNOR SCHWARZENEGGER HAS HIS NAME ON THE WAITING LIST FOR HIS OWN ONE- HUNDRED-THOUSAND DOLLAR MODEL. THE STATE'S ECONOMIC DEVELOPMENT DEPARTMENT IS NOT HAPPY ABOUT THE CHANGE OF HEART AND HAD THIS TO SAY: 'THIS DECISION BY TESLA IS NOT SURPRISING GIVEN THE RECENT INSTABILITY OF ITS MANAGEMENT. STILL IT IS UNFORTUNATE THAT TESLA BACKED AWAY FROM ITS COMMITMENT TO THE STATE.'TESLA CUT JOBS EARLIER THIS YEAR -- INCLUDING 3 EXECUTIVE POSITIONS. LATE THIS AFTERNOON TESLA RELEASED A STATEMENT SAYING THEY'LL SAVE MONEY BY KEEPING THEIR MANUFACTURING PLANT CLOSE TO THEIR ENGINEERING AND RESEARCH FACILITIES IN CALIFORNIA. LIVE IN THE NEWSROOM....VC...E WN 4. RAINSTORMS ARE  « Less