Investor Alert

New York Markets Close in:

Market Pulse Archives

Nov. 26, 2021, 9:50 a.m. EST

Tesla withdraws application for government subsidy for German battery plant

Watchlist Relevance

Want to see how this story relates to your watchlist?

Just add items to create a watchlist now:

  • X
    Tesla Inc. (TSLA)

or Cancel Already have a watchlist? Log In

By Steve Gelsi


Tesla /zigman2/quotes/203558040/composite TSLA +3.82% said on Friday it's withdrawing its formal request for a state subsidy in Germany for its planned battery production site east of Berlin, according to wire reports. Tesla founder Elon Musk's opposition to subsidies was cited as a reason for the move. The electric car maker did not provide a potential funding figure from the government, but it has been expected to range into the billions of euros. Tesla said it still plans to build a battery and recycling factory in its Berlin-Brandenburg gigafactory. Tesla shares fell by 2.4%.

US : U.S.: Nasdaq
$ 1,033.72
+38.07 +3.82%
Volume: 12.46M
Jan. 20, 2022 12:54p
P/E Ratio
Dividend Yield
Market Cap
$999.90 billion
Rev. per Employee

Get news alerts on Tesla Inc. — or create your own.
This Story has 0 Comments
Be the first to comment
More News In

Story Conversation

Commenting FAQs »

Partner Center

Link to MarketWatch's Slice.