German Newspaper: 1.1 Billion Euros German Subsidy for Tesla
Car manufacturer Tesla receives a subsidy of more than 1.1 billion euros from Germany to realise its battery cell factory in Grünheide near Berlin.
The money comes from a pot of 2.9 billion euros that the German government has set aside to support battery projects in the country, writes the German newspaper Der Tagesspiegel, without specifying where the information comes from.
The financing has already been agreed upon, but approval is still required. The Ministry of Economy informed the newspaper that the process has not yet been completed and that a decision is expected in the final quarter of this year.
The ministry expects about 5 billion euros to be invested in the battery factory, located east of Berlin. The arrival of the factory is expected to create about 2000 jobs, according to Der Tagesspiegel.
