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Home » Tesla in Talks to Build Car GigaFactory in Spain’s Valencia Region

Tesla in Talks to Build Car GigaFactory in Spain’s Valencia Region

Tesla Gigafactory

Tesla’s chattin’ with officials in Valencia, Spain to maybe, possibly build a brand new electric vehicle gigafactory, according to Spanish media reports. Valencia’s local government confirmed they’ve been havin’ “meetings and conversations” with an unnamed company. While a spokesperson for Valencia’s regional government declined to reveal the identity of the company they are in talks with, industry insiders have suggested that it is Tesla. The talks are said to be ongoing, with both parties remaining tight-lipped about the specifics.

According to Cinco Dias, the investment could exceed €4.5 billion ($5.3 billion), making it one of the largest in the region’s history. No wonder Valencia’s government is keeping mum! Spain’s already Europe’s second biggest carmaker, with VW announcing last year they’re droppin’ $11.4 billion on a EV battery factory in Valencia.

Tesla’s only got one other factory in Europe near Berlin that’s crankin’ out Model Y, which just so happen to be Europe’s best-sellin’ vehicle. Most of Tesla Model 3, their other hot seller, still gotta be shipped in from their Shanghai factory.

Spain’s Prime Minister Pedro Sanchez even tweeted at Elon Musk, Tesla’s mad genius CEO, “Time is now. Let’s get it right. Come and see. We welcome investors in Spain.” Musk hasn’t tweeted a response just yet. Y’all think he’ll take Sanchez up on that offer?

If the talks are successful, Tesla’s investment in Valencia could have a significant impact on the region’s economy, creating jobs and promoting sustainable growth. However, it remains to be seen whether the negotiations will result in a concrete agreement.

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