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One billion euros from the German government to Tesla to build a plant in Berlin

One billion euros from the German government to Tesla to build a plant in Berlin

Following the announcement of the implementation of the new plan of the European Union for financial aid to electric car manufacturers, the name of Tesla and the receipt of 1 billion Euros from the German government has been proposed. Tesla is set to receive the loan in exchange for the opening of an electric car battery production center in the jungles of Berlin. This comes at a time when Tesla has faced many challenges in recent weeks with the massive deforestation of trees around Berlin.

Environmentalists believe that these forests are home to a special species of lizard, and that the habitat of this animal is endangered by Tesla. However, the EU plans to invest € 3 billion to support the production of battery cells on European soil to reduce its dependence on imports from China. This production site is located in the state of Brandenburg. However, the German Ministry of Economy has not announced the exact amount to be provided to Tesla.

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At the moment, this move is very controversial due to the growing value of Tesla shares and the emergence of Ilan Mask as the richest person in the world, and it remains to be seen whether this is a concerted move to help keep the Tesla stock bubble high. Or not?

However, many believe the aid will go to other automakers, including BMW. However, it is not clear at this time exactly what other automakers will receive the funding.

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However, it seems that European governments are ready to face the flood of migrants and to do so they need to create new jobs and production on European soil. In 2020, Tesla Model 3, as the company’s cheapest product, could not compete with its competitors, Volkswagen ID.3 and Renault Zoe, and became the third best-selling product in this market.

Tesla

However, Ilan Mask strongly supports the production of new electric products because he believes that this will lead to a wider use of electric vehicles by the public. Also, due to the smaller dimensions of the streets in European cities, Ilan Mask is interested in producing smaller products suitable for these markets.

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