US electric car manufacturer Tesla is in talks with the leaders of the regional government of Valencia in Spain to build a car factory, newspaper Cinco Dias reported on Thursday, citing unidentified sources close to the discussions.
The company's total investment in the factory could surpass €4.5bn (roughly R91.54bn), the newspaper said.
Tesla did not immediately respond to a request for comment, while Spain's central government declined to comment. Reuters could not immediately reach the Valencian regional government.
German car maker Volkswagen has already said it plans to invest as much as €3bn (R56.86bn) in a battery factory in the town of Sagunto in the Valencia area.
Spain is Europe's second-largest car producer and is using European Union Covid-19 pandemic recovery funds to attract carmakers to invest in the manufacture of both batteries and electric vehicles.
The EU plans to phase out thermal cars.
Tesla considering building €4.5bn car factory in Spain
US electric car manufacturer reportedly in talks with leaders of regional government of Valencia
Image: Scott Olson/Getty Images
US electric car manufacturer Tesla is in talks with the leaders of the regional government of Valencia in Spain to build a car factory, newspaper Cinco Dias reported on Thursday, citing unidentified sources close to the discussions.
The company's total investment in the factory could surpass €4.5bn (roughly R91.54bn), the newspaper said.
Tesla did not immediately respond to a request for comment, while Spain's central government declined to comment. Reuters could not immediately reach the Valencian regional government.
German car maker Volkswagen has already said it plans to invest as much as €3bn (R56.86bn) in a battery factory in the town of Sagunto in the Valencia area.
Spain is Europe's second-largest car producer and is using European Union Covid-19 pandemic recovery funds to attract carmakers to invest in the manufacture of both batteries and electric vehicles.
The EU plans to phase out thermal cars.
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