Committee green-lights land sale for Tesla’s new factory in Germany

Potsdam, Germany (dpa) – Tesla’s bargain deal for the land on which it plans to build its new factory in Germany was approved on Thursday by officials in the state of Brandenburg.

“We have overcome the first major hurdle,” state finance minister Katrin Lange said following a meeting of the state finance committee.

The decision was “unanimous with a number of abstentions,” she added.

The 300-hectare wooded property south-east of Berlin is due to cost Tesla 41 million euros (45.6 million dollars), which when considered per square metre is considered cheap compared to other industrial estates in the region.

Lange said the price could change pending surveys of the plot.

Tesla’s management board still has to sign off on the purchase.

The Silicon Valley giant, run by celebrity entrepreneur Elon Musk, plans to produce up to 500,000 units annually of its Model 3 and Y vehicles and future models at the so-called Gigafactory in Gruenheide, beginning in July 2021.

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