Original title: Tesla, Inc.The construction of a battery factory in Germany is expected to receive a grant of 1.14 billion euros.
Source: Zhitong Finance and Economics Network
Tesla, Inc. will receive 1.14 billion euros from the German Ministry of Economic Affairs and Energy (BMWI) to build a new battery factory near its Tesla, Inc. Berlin super factory, local media reported. Peter Altmaier, head of BMWI, said that if the product can be produced smoothly, then the plant will be able to provide more than 2000 jobs. It is reported that Tesla, Inc. 's total investment in the battery factory in Germany is about 5 billion euros.
The plant will produce a new generation of more powerful and environmentally friendly batteries with twice as many jobs as expected. After completion, it may become the largest battery factory in the world, with an annual production capacity of 100GWh. The assembly plant that produces Model Y is expected to provide 12000 jobs. When the plant is completed and fully put into operation, it is estimated that it will be able to produce 500000 cars a year.
BMWI's grant to Tesla, Inc. is in line with BMWI's grant to other companies building battery factories in Germany. Just a few days ago, Altmaier submitted a notice of approval to Opel, asking Opel to invest 437 million euros to build a battery factory in Kaiserslautern at a cost of about 2 billion euros. The ratio of funding to cost is about 1 4.5, which is roughly the same as that allocated by BMWI to Tesla, Inc..
It is reported that Tesla, Inc. 's funds have been coordinated with all relevant departments and are ready to be approved. This means that 1/3 of the funds currently available for innovative battery projects will go to Tesla, Inc.. A total of 11 companies have participated in this round of financing, and the allocation for Tesla, Inc. is expected to be announced in the fourth quarter of this year.
Tesla, Inc. has applied for pre-approval for his battery factory to speed up construction before obtaining final environmental approval. The company has also applied for pre-approval for its Berlin superfactory to open it quickly.