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IPFS News Link • Business/ Commerce

Tesla Withdraws Application For $1.3 Billion In Subsidies For Its German Gigafactory

• by Tyler Durden

The subsidies were supposed to be for the EV manufacturer's new battery-cell plant it is setting up, Tagesspiegel newspaper reported. The plant is being set up in Brandenburg, close to Berlin. 

"Germany's Economy Ministry had already approved the aid package as per the European Union's IPCEI battery-innovation program," Bloomberg wrote Friday morning. 

Details were sparse as to why the application was pulled. A spokesperson for the economy ministry said: "Tesla continues to stick to its plans for the battery factory in the Gigafactory Berlin-Brandenburg, but will do without state IPCEI funding."

Recall, this summer, we commented on the ongoing war between Tesla and German environmentalists who were trying to prevent the erection of the plant.