Greece To Provide R&D Facility At Zero Cost To Tesla Inc (TSLA)

Tesla Inc (NASDAQ:TSLA) has long benefitted from EV tax breaks from various world governments, but now one European country is taking accommodation to a whole new level.

As The Guardian reports, a prominent Greek businessman is offering a massive facility for Tesla’s use at no cost whatsoever:

Tesla’s plans for the country have such “game-changing potential” that the head of the Hellenic Entrepreneurs’ Association, Vasilis Apostolopoulos, has pledged to hand over his own industrial plant for free as a testing ground for new products.
Addressing delegates at the annual Delphi economic forum, Apostolopoulos said: “I have personally emailed Musk to welcome Tesla Greece … and to say that for the next 10 years I will give, at zero cost to his company, my group’s own industrial plant outside Corinth so that Greece can be on the frontline of global innovation.”

Three of Tesla’s top engineers that hail from Greece are reportedly planning to move back to Athens as part of the development. These talented workers include principal motor designer Konstantinos Laskaris, motor design engineer Konstantinos Bourchas, and staff motor design engineer Vasilis Papanikolaou.

“It is the least we can do to thank and welcome Mr Musk’s vote of confidence in Hellenic business, research and technology,” Apostolopoulos concluded.

Tesla Inc shares closed at $335.12 on Friday, up $4.19 (+1.27%). Year-to-date, TSLA has gained 7.63%, versus a 0.83% rise in the benchmark S&P 500 index during the same period.

TSLA currently has a StockNews.com POWR Rating of B (Buy), and is ranked #3 of 24 stocks in the Auto & Vehicle Manufacturers category.