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Tesla declines state aid for German battery plant

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Tesla declines state aid for German battery plant

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According to a Tesla Inc. spokesperson, the company has withdrawn its application for state funding in Germany. The government subsidies were meant to support the carmaker in its planned construction of the battery factory near Berlin. The US electric car manufacturer intends to build a plant for battery cell production in Germany. Previously, Tesla was expected to receive a state subsidy from the German government. However, later, the producer of electric vehicles withdrew its request for state funding, citing Elon Musk's opposition to subsidies as the main reason for the move. “It has always been Tesla’s view that all subsidies should be eliminated,” Musk posted on Twitter adding that this “must include the massive subsidies for oil & gas.” The exact amount of the subsidy was not revealed but was estimated to be around €1.14 billion. The company’s management said that Tesla would stick to its plan to build a battery and recycling factory near Berlin. The plant will produce new battery cells and recycle the old ones. According to Germany’s Federal Ministry for Economic Affairs and Energy, Tesla will invest €5 billion in this project.

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