Tesla can avail state subsidies for its Gigafactory: German economy minister Peter Altmaier

In an interview to a German weekly newspaper, Germany’s economy minister stated, Tesla could avail state subsidies if it were to set up a gigafactory in the country.

“In my conversations with (Tesla CEO) Elon Musk I have always made clear that there are no privileges but also no discrimination,” said Peter Altmaier to Welt am Sonntag in an interview.

The German government has already earmarked financial support for companies who produce electric car battery cells locally. In order for companies to qualify for state subsidies, they will have to fulfill certain requirements in the areas of sustainability and battery efficiency.

“Also, Germany has to be more than an extended workbench. There needs to be research and development, too. All companies that fulfill these criteria have a chance to be supported – including Tesla,” said Altmaier.

In November 2019, Tesla had announced it would build its first European factory and design center near Berlin; it had also mentioned that its European plant would also produce batteries and cars – starting with the Model Y sports utility vehicle.

Categories: Creativity, Economy & Finance, HR & Organization, Regulations & Legal, Strategy, Sustainability

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