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Tesla moves a step closer to opening first European factory with German property deal – Source Reuters Tech News

FILE PHOTO: A demonstrators holds pro-Tesla poster during an action to support plans by U.S. electric vehicle pioneer Tesla to build its first European factory and design center in Gruenheide near Berlin, Germany January 18, 2020. REUTERS/Pawel Kopczynski

BERLIN (Reuters) – U.S. electric car pioneer Tesla (TSLA.O) has agreed to buy a property on the outskirts of Berlin, bringing it a step closer to opening its first European factory, local authorities said on Sunday.

The U.S. carmaker last November announced plans to build a giant factory in Gruenheide, in the eastern German state of Brandenburg, giving it the coveted “Made in Germany” label just as local rivals prepare to launch competing models.

Tesla’s board of directors approved a purchase agreement with the state of Brandenburg on Saturday to acquire a 300-hectare property, Brandenburg government spokesman Florian Engels said in a statement. The state parliament’s finance committee had already approved the sale on…

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Source Reuters Tech News

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