BERLIN : Germany will probably decide by the end of the year how much state aid U.S. electric vehicle maker Tesla will receive for its planned battery cell factory near Berlin, an economy ministry spokesperson said on Sunday.
The EU's approval of the 2.9 billion euro European Battery Innovation project, which includes more than 40 companies, follows the launch in 2017 of the European Battery Alliance to support the industry during the shift away from fossil fuels. The unusually high investment volume means that the U.S. car manufacturer can count on German state subsidies of 1.14 billion euros, Tagesspiegel newspaper reported on Sunday.
The economy ministry spokesperson said there was no final sum yet because talks with the carmaker and the European Commission are ongoing, adding that a final decision is likely before the end of the year.