Tesla to open power train plant in Palo Alto
The company says the facility will build components for its vehicles and other automakers. The complex will also house its corporate headquarters and will employ roughly 350 people with space for up to 650.
In June, the carmaker won $465 million in low-interest loans from the U.S. Energy Department. The money is part of a larger pool of funds to help automakers develop more efficient vehicle technology.
The maker of the $109,000 Roadster electric sports car recently unveiled an electric sedan it expects to price under $50,000 after government rebates.
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Hydro One bends to government demands, caps CEO pay at $1.5M
TORONTO - Hydro One has agreed to cap the annual compensation of its chief executive at $1.5 million, the provincial utility said Friday, acquiescing to the demands of the Progressive Conservative government.
The CEO's base salary will be set at $500,000 per year, while short-term and long-term incentives are limited to $1 million. Performance targets under the pay plan will include the CEO's contributions to reductions in transmission and distribution costs.
The framework represents a notable political victory for Premier Doug Ford, who campaigned on a promise to reduce the annual earnings of Hydro One's board members.
In February, the province issued a…
