Summary:
Tesla is reportedly close to signing an agreement to rent a new warehouse in Milton Keynes, UK, with the aim of increasing sales of its electric vehicles in the country, reports The Times.
According to property website React News, the electric car manufacturer is in advanced discussions with Trammell Crow regarding leasing their 338,000 sq ft project. This facility would become Tesla’s first major UK warehouse.
The warehouse is expected to be set up in collaboration with logistics group DB Schenker, which specializes in storing and transporting lithium batteries used in electric vehicles. The deal comes as the UK sees a surge in electric car adoption, with a record 46,626 electric cars registered in March, representing an 18.6% year-on-year increase.
Tesla’s Model Y emerged as the best-selling vehicle in the category, with 8,123 units sold. The company, led by Elon Musk, had previously considered establishing a UK gigafactory in 2020, but no plans have materialized so far.
Tesla is said to have agreed to a long-term lease at a rent of around £13 ($16.23 USD) per sq ft, significantly higher than the current record rent for logistics in the Milton Keynes area. All parties involved have either declined to comment or were unavailable for a statement.
This move to expand sales in the UK comes on the heels of Tesla’s recent announcement that it will increase investment in China, building a battery factory in Shanghai, despite growing tensions between the US and China.
