Tesla negotiates a large investment in the metropolitan area of ​​Valencia

VALENCIA, 8 Jun. (EUROPA PRESS) -

Tesla is the multinational company in the automobile sector that is negotiating with the Valencian Generalitat to develop a project in the metropolitan area of ​​Valencia that will involve a large economic investment, sources familiar with the operation informed Europa Press.

According to published information, the investment would exceed that of the PowerCo (Volkswagen) battery cell gigafactory in Sagunt, which amounts to 4,500 million euros.

This Wednesday it transpired that the negotiations are not closed "one hundred percent" but they are "very well channeled" and that the Generalitat has signed a contract that includes confidentiality clauses, so it cannot offer details such as the name of the company or the location.

However, as Europa Press has learned, this company would be the American Tesla, the electric car brand led by Elon Musk. The company sold a total of 1.31 million vehicles worldwide in 2022 and its Tesla Model Y model was the best-selling car in Europe last February.

The talks between the company and the regional government began almost a year ago and the company is one of the ten multinationals that the president of the Generalitat, Ximo Puig, explained that they were in talks with the regional Executive to settle in the Valencian Community.

This investment would be added to that of the Volkswagen subsidiary to build its gigafactory of battery cells in Sagunt (Valencia), a project that will be underway in 2026 and involves an investment of 4,500 million euros.

The objective is to transform the Valencian Community into the hub of sustainable electromobility in southern Europe, as the acting president of the Generalitat has reiterated on several occasions.

Progress is being made in this cluster with milestones such as the award of the production of Ford electric vehicles to Almussafes (Valencia) and the presence of companies such as Stadler.