Tesla could get over $1 billion in govt funding for battery factory: Report

London: The German government is finalising a subsidy package that could give Tesla over $1 billion in government funding for its new battery factory at Gigafactory Berlin.

After announcing plans to build a large electric vehicle factory in Berlin, Tesla confirmed that the project will also include a large battery cell factory, reports Electrek.

It would likely become Tesla’s first in-house volume production of battery cells, the report said.

Around the same time that Tesla made the announcement, the German government announced plans to invest billions of dollars in encouraging local battery cell production to support local electric vehicle manufacturing.