Tesla considering building 4.5 bln euro car factory in Spain

U.S. electric car manufacturer Tesla (TSLA.O) is in talks with the leaders of the regional government of Valencia in Spain to build a car factory, newspaper Cinco Dias reported on Thursday, citing unidentified sources close to the discussions.

The company’s total investment in the factory could surpass 4.5 billion euros ($4.83 billion), the newspaper said.

A spokesman for Valencia’s regional government told Reuters it had held meetings and conversations with an unidentified company about a “large automobile investment”, but declined to give more details, citing the confidentiality of the negotiations.

Tesla did not immediately respond to a request for comment, while Spain’s central government declined to comment.

German car maker Volkswagen has already said it plans to invest as much as 3 billion euros in a battery factory in the town of Sagunto in the Valencia area.

This report’s information was first seen on REUTERS; to read more, click this link.