Czech Tesla to forfeit EUR 40 million in state funding for the construction of an energy storage equipment factory in Braila

Tesla's Energy Equipment Storage Factory in Braila, Romania: Delayed but Still On Track

Reports by Ziarul Financiar have revealed that the construction of Tesla's EUR 90 million energy equipment storage factory in Braila, Romania, has been delayed by eight months. The factory, initially estimated to begin construction in early 2023, will now start in July 2024.

The location of the factory remains unchanged, with Braila continuing to host the much-anticipated project. The specific nature of the energy equipment stored in the factory remains undisclosed.

The financing agreement for the factory includes a EUR 40 million grant, part of a scheme aimed at supporting large investments with major economic impact, passed under the government decision HG 807/2014. The Romanian Finance Ministry approved Tesla's request for this grant on December 8, 2022.

Despite the delay, the factory is still expected to be ready by mid-2025, according to Tesla representatives. This timeline aligns with the factory's expected completion date, according to earlier reports, which placed the completion date in mid-2025.

The construction timeline's revision has not been specified in the article. However, the factory's construction works are scheduled to begin in July 2024, according to earlier reports.

Notably, the Romanian Finance Ministry has stated that the factory must be ready by the end of the year, or the financing agreement will be revoked. This condition has been emphasised in previous reports.

In a twist, the investor, the Czech company Tesla, has not responded to repeated inquiries by Ziarul Financiar regarding the delay and the future of the project.

In an earlier report, Dusan Lichardus, co-founder and chairman of the board of directors of the Tesla group in the Czech Republic, had stated that the factory would be ready in the same year, creating 200 jobs. However, recent developments suggest otherwise.

As of now, the Czech Tesla Group's energy storage power plant project in Braila, Romania, is in the financing phase with significant investment secured. The realistic completion is expected by late 2026.

Stay tuned for more updates on this developing story.

Czech Tesla to forfeit EUR 40 million in state funding for the construction of an energy storage equipment factory in Braila