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Tesla buys German property for 1st Europe factory

Tesla Inc. has agreed to buy a 300-hectare property in the eastern German state of Brandenburg for its first European factory, Reuters reported Jan. 18, citing local authorities and confirmation from a Tesla spokeswoman.

The purchase agreement, which the electric-car maker entered into with the state of Brandenburg, calls for a preliminary property price of €40.91 million, the report said. However, a spokesman from the local government reportedly said the deal price can still be revised if an external review provides a different value.

The move is expected to create up to 7,000 jobs, the report said.

Tesla CEO Elon Musk confirmed in November 2019 that the company plans to establish its fourth gigafactory in Berlin to take advantage of "German engineering."

A Tesla spokeswoman confirmed the company's agreement with the government of Brandenburg, Reuters said. The report added that the state parliament's finance committee had already approved the sale on Jan. 9.

Meanwhile, the agreement was reportedly met with opposition by a group of 250 locals who took to the streets Jan. 18 to protest the potential environmental effects of Tesla's planned site. Reuters said in a separate report that the protest follows a report by the Brandenburg water association, which stressed the "extensive and serious problems with the drinking water supply and wastewater disposal" for the planned factory.