BUFFALO, N.Y. (WKBW) — NY CREATES will sell tools and equipment previously used by Tesla and Panasonic at the Riverbend plant.
The tools and equipment used at Riverbend were originally purchased by the state for approximately $128 million.
A spokesperson for NY CREATES says they have sold $39 million in equipment to date.
The sale of the equipment will make room for Tesla to install tools they have purchased to ramp up and expand operations, according to Jason Conwall, spokesperson for NY CREATES.
Nearly $22 million worth of equipment will be recycled.
“We are currently engaged in a competitive process to sell the tools for the highest price possible, and there is some information we are unable to share at this time as it would be damaging to ongoing negotiations," said Conwall.
NY CREATES says this is part of a long-term strategy to reduce excess inventory and expenses, which includes selling unneeded tools and equipment.