Tesla Giga Berlin Battery Factory Can Receive €120 Million Funding from State of Brandenburg

Eva Fox by Eva Fox September 10, 2021

Tesla Giga Berlin Battery Factory Can Receive €120 Million Funding from State of Brandenburg

Photo: @Gf4Tesla/Twitter

Tesla's battery factory in Giga Berlin can receive an investment from the state of Brandenburg in the amount of €120 million under an administrative agreement, which they agreed to sign together with the federal government.

The federal government and Brandenburg are trying to properly arrange to fund Tesla's battery factory, which will be located in Giga Berlin. On September 7, Brandenburg Economy Minister Jörg Steinbach told the Cabinet of Ministers that it is planned to sign an administrative agreement with the federal government on the conditions for co-financing the research and production of Tesla battery cells. The Budget Committee of the Brandenburg State Parliament considered this issue on September 9.

It has now become known that the state of Brandenburg wants to fund €120 million to finance Tesla's battery factory. The Economy Department confirmed Thursday after talks between the federal and state governments that the budget committee had released this amount from a future investment fund. This amount still needs to be approved by the economic committee next week.

According to recently released information, Tesla may receive funding of about €1.14 billion from the second European battery cell program Important Projects of Common European Interest (IPCEI). The Federal Economy Ministry said there was still no final amount to fund the American manufacturer's battery factory.

At first, Giga Berlin will produce 50-gigawatt hours of battery cells annually. When the factory is completed, it will be the largest battery manufacturing plant in Europe. However, this is only an initial plan, and in the future, Tesla CEO Elon Musk hopes to produce around 250 gigawatt-hours per year. “I can even imagine expanding to 200 to 250 GWh,” he said. "I'm pretty sure that that would make it the largest battery factory in the world."

© 2021, Eva Fox | Tesmanian. All rights reserved.

_____________________________

We appreciate your readership! Please share your thoughts in the comment section below.

Article edited by @SmokeyShorts, you can follow him on Twitter






Previous  / Next