Tesla is reportedly negotiating the construction of a new, massive €4.5 billion ($4.8 billion) Gigafactory in the metro area of Valencia, Spain, according to reports from Spanish media sources.
Tesla is already planning to expand its manufacturing footprint past its current factories in the United States, China, and Europe with an already-announced factory in Mexico. However, CEO Elon Musk announced earlier this year that the automaker would likely announce the location of another plant before the end of 2023.
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