The alleged Tesla Spain factory could be an expensive one, as rumors claim it could cost over $4 billion.
On Thursday, June 8, a local government in Spain announced that it is negotiating with an automaker for a possible large investment.
However, officials didn't specify the name of the car company behind that project.
This detail was reported by CincoDias, a local Spanish newspaper.
The source claimed that people familiar with the alleged project claimed that Generalitat Valenciana signed a confidentiality contract with Tesla.
Alleged Tesla Spain Factory Could Cost Over $4 Billion!
According to Electrek's latest report, the billion-dollar factory could be constructed around Valencia in Spain.
Sources claimed that the upcoming Tesla factory in Spain could be more expensive than the one that Volkswagen will build in Sagundo.
Recently, Generalitat's President Ximo Puig already hinted that his executives were already holding open negotiations with ten large companies.
These could lead to an investment of over $26 million, as well as create more than 43,000 direct jobs.
Will It Be an EV or Battery Factory?
As of writing, it is still unclear if the alleged Tesla Spain factory will focus on EV or battery production.
Some sources stated that the confidentiality contract between Tesla and Generalitat Valenciana indicates that the American automaker will manufacture electric cars in Spain.
But, there's a chance that the plant will be for battery production as the alleged Tesla factory was compared to VW's battery facility.
"If an investment of this depth is confirmed, the sector will be available to the company that has chosen the Valencian Community for its destination," said Francisco Segura, the Valencian automotive cluster president.
As of press time, details about the new Spain factory of Tesla are scarce since Elon Musk and his team commented on it. But, experts stated that if Tesla really wants to construct a new factory in Valencia, then it needs to confirm it soon to stick to its goal.
If you want to learn more about the alleged Tesla Spain factory, you can visit this link.
Related Article : Tesla Cyberquad Electric ATV Still in the Works, Trademark Filing Hints
