Government funding: Tesla stocks: Tesla can count on billions in funding | newsletter

Berlin’s Tagspiegel newspaper reported on Sunday that funding from the Federal Ministry of Economics has come for approval. The Federal Ministry and the Ministry of Economic Affairs in Brandenburg have not commented on the report. Not only does Tesla want to build Europe’s first electric car plant in Grünheide near Berlin, it also wants to mass-produce battery cells there.

At the beginning of the year, the European Union Commission approved billions of dollars in aid for the second time to support battery production in Europe. Germany and eleven other countries in the European Union could save up to 2.9 billion euros as well as advance electric mobility. Tesla in Brandenburg could also benefit from the funding. Germany is in the process of coordinating its second battery programme.

At Grünheide, production of electric cars was originally supposed to start at the beginning of July, but Tesla is now targeting the end of the year. The company is currently building through early permits because the final decision on the environmental permit issued by the state of Brandenburg is still pending. When the decision comes it is still open. Up to 500,000 vehicles are expected to roll off the production line at Grünheide in Brandenburg each year.

/ vr / DP / mis

Berlin / Grunhead (dpa-AFX)

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