Deadline extension no longer applicable: Tesla provides security

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Deadline extension no longer applicable
Tesla provides security

Tesla is building its factory in Grünheide with early approvals. In the event of a possible dismantling, the car manufacturer in Brandenburg must provide security. Tesla lets the first deadline pass, now the money comes in shortly before. The previously granted renewed deferral of payment is thus unnecessary.

Shortly before the end of the deadline, US electric car maker Tesla deposited a security deposit required by Brandenburg for the construction of the factory in Grünheide near Berlin. The Tesla management confirmed the agreement between Tesla Brandenburg and the State Office for the Environment to secure any dismantling obligations late on Friday evening, the Ministry of Environment said.

"The necessary security is provided by the provision of a letter of comfort by a German GmbH, combined with a cash deposit of 100 million euros." This means that the deadline, which has now been extended by five days, is no longer relevant. According to information from the German Press Agency, the money was deposited between 11 p.m. and midnight. This means that no construction stop has to be imposed.

The factory has not yet received any environmental approval. Tesla is therefore building through early approvals. The 100 million euros are necessary as security for possible dismantling costs. In December, the company had not deposited the performance by the December 17 deadline. Tesla then got a longer deadline until January 15th.

Production in Brandenburg is scheduled to start in July. In the first phase, around 500,000 vehicles are to be produced per year. Conservationists and residents fear negative consequences of the settlement, among other things because of the water consumption and because part of the construction site is in a water protection area.

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