Tesla gets billions for German battery project

Tesla is expected to put billions of euros in public funding from one of the EU Commission’s Important Project of Common European Interest (IPCEI) projects into a battery cell factory near Giga Berlin.

The commission approved 2.9 billion euros towards “European Battery Innovation” focusing on research and innovation, Teslarati reports.

It says the EU’s battery value chain concentrates on four categories, all of which Tesla falls under. “The exact sum Tesla will receive in public funding has not been divulged by the commission, though local government sources have noted that the funding will be in the ‘single-digit billions’.”

Teslarati suggests the commission seems hopeful the EU will have a strong stake in the growing global battery industry.

Tesla intends building an advanced battery production plant to produce its 4680 battery cells near Gigafactory Berlin, which would then be used in vehicles like the Model Y.

It already has pre-approval for the battery cell factory.