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Tesla buys land for test track in Fremont

By Chris DeBenedetti
Monday, July 22nd, 2013 at 10:36 am in Uncategorized.

Story by colleague George Avalos:

FREMONT – Tesla Motors (TSLA) has gobbled up a 35-acre site in Fremont near its automotive factory, apparently to build a test track for its all-electric automobiles.

“The land is attached to the Tesla factory property,” said Shanna Hendriks, a spokeswoman for Tesla. “We will use it as we expand our use of the facilities.”

Although Tesla didn’t provide details about precisely how the land would be used, analysts say it would allow the company to expand an old test track that was built when General Motors and Toyota made cars and pickups there.

“It’s a really good idea for Tesla to take over the test track,” said Theodore O’Neill, an analyst with Litchfield Hills Research, an investment firm. “Having a big test track will improve the ability of engineers to work out the kinks in new vehicles.”

Tesla bought the land Wednesday, Alameda County property records show. The seller was Union Pacific Railroad. Terms weren’t disclosed.

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