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Elon Musk's Berlin plant will receive a billion dollars in subsidies from the German government

Europe / Business and Finance

The German government will grant a subsidy to the enterprise of the world's richest businessman in support of the battery industry in Europe.

Elon Musk's Berlin plant will receive a billion dollars in subsidies from the German government

US electric vehicle manufacturer Tesla may receive a billion euros in government funding from Germany as a subsidy to build a battery plant near Berlin, Business Insider reported on Monday.

Subsidies, which are part of the support for 11 battery-related businesses under the so-called "important project of common European interest", will be paid by the federal government and the regional state of Brandenburg, the publication reports, citing government sources. </p >

According to the plans of the American company, the fourth Gigafabrika will start working next year. Up to half a million Model 3 sedans and Model Y crossovers will roll off the assembly lines annually.

The Berlin plant will also annually produce innovative "million miles" batteries with a total capacity of up to 250 GWh, almost the same as the entire global battery cell industry is currently producing.

Earlier today it was reported that Ukraine has joined the European Battery Alliance, which supports the construction of new plants for the production of batteries for electric vehicles, represented by the State Service of Geology and Mineral Resources of the country.

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