Tesla to choose Nevada for $5B battery factory

Tesla Motors Inc. is expected to choose a site in Nevada for its proposed up to $5 billion battery factory and could disclose the move on Thursday, a person familiar with the electric automaker's plans told the Wall Street Journal.

A news conference is scheduled today at 4 p.m. in Carson City. It's also expected Nevada will offer Tesla one of the largest incentive packages in the history of the U.S. auto industry to lure the company to state with a small auto manufacuring presence.

By choosing Nevada, Tesla would get a site close to its Fremont, Calif., assembly plant and ready access to lithium, a key raw material for the batteries.

Read more from the Wall Street Journal.