$500M Offered to Lure Tesla Battery Factory to California: Report

California is now offering a new deal to Elon Musk in an effort to sway Tesla to build its big battery factory in the state.

The offer includes $500 million and an exemption from strict California Environmental Quality Act (CEQA) rules, according to the Los Angeles Times.

Gov. Jerry Brown's office is planning to roll out the package of a half-billion dollars in tax breaks as part of a benefits package that would make the Golden State a golden opportunity for the electric car-maker, according to reports.

Meanwhile, some of the state's toughest green rules could be waived, a state senator involved in the negotiations told the LA Times.

The factory, wherever it's built, could employ up to 6,500 people and cost $5 billion.

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