Tesla Moves Forward and Acquires Land for Its European Gigafactory

Tesla’s plans to sell cars in markets around the world get one step closer to reaching fruition as the company has negotiated a great price for the European plant land. According to several details that have been released, the electric car manufacturer will acquire the 300-hectare property for just $45.48 million.

Given that the company purchased the 86.5-hectare land needed to build its Gigafactory 3 in Shanghai for a bit more than $140 million, the price negotiated for the Grünheide-located property makes this a killer deal. 

However, Tesla will have to make this land easy to reach by building public roads. Moreover, the company will need to install the water and electricity systems required for the plant to work, and take care of other such aspects on its own, which will add to the final price paid by the company.

Finer details regarding the Gigafactory 4 project will be discussed in meetings conducted by the local governments in the next few weeks. The way this project impacts the environment is one of the major points of these meetings as the company has already removed trees from 90 hectares of this land.

The all-electric auto manufacturer does not want to endanger the wildlife inhabiting this area and these meetings are expected to tackle this issue. The Brandenburg State Parliament will meet on January 9 to decide on Tesla’s Gigafactory 4 project in Germany.

If everything goes as planned, Tesla should complete this project by the end of February and start rolling its first cars produced at the Grünheide factory in June 2021.