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Report: Tesla exploring German state for potential new factory

Tesla Inc. is scouting locations in the German state of North Rhine-Westphalia for a potential new factory in the European country's most populous state, Reuters reported Aug. 25, citing German media reports.

The report comes four months after Tesla CEO Elon Musk tweeted that he is considering building a factory in Germany.

German daily Rheinische Post reportedly said the Silicon Valley, Calif.-based electric carmaker has already conducted first inspections in the state.

The state of North Rhine-Westphalia shares borders with the Netherlands and Belgium.

Musk said in 2018 that Germany was a leading choice in Europe to build a Gigafactory, adding "the German-French border makes sense, near the Benelux countries," according to the report.

Tesla did not immediately respond to S&P Global Market Intelligence's requests for comment.