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One billion in funding? Tesla's German factory postponed completion

by:Yisheng      2021-06-07

Recently, foreign media reported that Tesla's German Gigafactory is expected to be unable to complete the construction target on time, and the completion date is delayed by at least five months.

According to people familiar with the matter, the construction of Tesla's Greenhead plant in Germany will be postponed. It is reported that the main reason for the delay is that Tesla's funding is not in place, and its investment in the German Gigafactory has been reduced by at least one billion euros.

In this regard, the spokesperson of the German Federal Ministry of Economic Affairs refused to disclose specific information, saying: 'We cannot confirm the amount of Tesla investment reported by the media at present, and the project has not yet determined the final investment amount.' It is reported that, Construction projects similar to Tesla's German Gigafactory require 20% to 30% of the investment funds to be put in place.

A number of people familiar with the matter said that Tesla's investment in the German Gigafactory has exceeded 1 billion euros.

Previously, when Tesla CEO Musk announced the construction of Tesla's German super factory, he said that the German super factory will refresh the construction time record of Tesla's Shanghai super factory, and it is expected to officially start production this summer. With an annual output of 500,000 cars. From this point of view, Musk's expectations may fall through.

As of press time, Tesla Germany declined to comment on this matter.

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