The world’s largest battery factory is to be funded with 1.14 billion euros

This is what the Tesla Gigafactory 4 in Grünheide should look like. (Image: Tesla)

Federal Minister of Economics Peter Altmaier (CDU) considers 2,000 and more jobs in the planned Tesla battery plant in Grünheide to be realistic. The funding should be correspondingly high.

The specification of the jobs to be expected in Tesla’s German battery factory is subject to the “product and production success”, as the Federal Ministry for Economic Affairs and Energy (BMWI) does Daily mirror has confirmed. So it’s just a forecast, but one that means a doubling of the numbers expected so far.

Tesla funding should be coordinated and ready for approval

The BMWI is unlikely to have the number drawn out of thin air. After all, Tesla and the ministry have been negotiating the specific funding amount for months, and Federal Economics Minister Peter Altmaier gave the company to the company at an early stage basically promised would have.

As reported by the Tagesspiegel, a significantly higher amount of funding is now being discussed. Something under 1.14 billion euros should now be agreed between all parties and ready for approval. The funding is to come from funds from the second European battery cell program (IPCEI). A good third of the 2.9 billion IPCEI funding pot would go to Tesla alone.

The ten other companies to which funding has been promised or approved share the rest – including Opel. A few days ago the company had a funding decision for 437 million euros a battery plant in Kaiserslautern obtain. The total investment should amount to two billion euros.

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Tesla investment significantly larger than initially assumed

As the Federal Ministry of Economics announced in the monthly publication “Schlaglichter der Wirtschaftsppolitik” from August 2021, the investment volume for Tesla’s battery cell production in Grünheide should amount to “around 5 billion euros”. In terms of the proportion of shares, that would be 2.5 times the funding amount compared to Opel – around 1.1 billion euros. However, there is no official confirmation so far.

The Tesla battery plant in Grünheide will be the first in the world the new cells that company boss Elon Musk produced on the occasion of last autumn des Battery-Day had imagined. They should provide more range with a more compact size and, moreover, be manufactured in a significantly more environmentally friendly manner than in the processes currently in use. Tesla has already applied for pre-approval for the early start of construction.

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